Sberbank increases net profit to IFRS to 1.307 trln rubles in 9M, to 448 bln rubles in Q3

MOSCOW. Oct 28 (Interfax) - Sberbank increased its net profit to International Financial Reporting Standards (IFRS) 6.5% in 9M 2025 to 1.307 trillion rubles compared to 1.277 trillion rubles for the same period in 2024, the bank said.

The bank's net profit grew 9.0% in Q3 2025 to 448.3 billion rubles compared to a profit of 411.1 billion rubles in Q3 2024.

The result exceeded analysts' consensus forecast, which assumed an increase in the bank's net profit in January-September 2025 of 4.6% to 1.283 trillion rubles, and 3.2% in Q3 to 424 billion rubles.

Return on equity for 9M 2025 amounted to 23.7% (25.2% a year earlier), while in Q3 it was 23.7% (25.4% a year earlier).

Total provisions and revaluation of loans measured at fair value increased 1.8-fold in 9M to 504 billion rubles and 34.2% in Q3 to 168.9 billion rubles.

The cost of risk increased from 0.9% to 1.5% in January-September and in Q3 to 1.4% from 1.2%.

Net interest income grew 18% in 9M and amounted to 2.568 trillion rubles and rose 17.3% in Q3 to 893.6 billion rubles.

The net interest margin increased to 6.2% in Q3 from 6.1% in Q2 and 5.9% in Q3 2024.

Net fee and commission income increased 0.5% in January-September to 614.7 billion rubles.

This indicator decreased 0.8% in Q3 2025 to 216.5 billion rubles.

The group's operating income before provisions grew 17.4% in 9M to 3.078 trillion rubles and 11.5% for the reporting quarter to 1.076 trillion rubles.

Operating expenses increased 14.4% in January-September to 863.6 billion rubles and 12.5% in Q3 to 308.6 billion rubles.

Core Tier 1 capital increased 5.3% in Q3 to 6.9 trillion rubles due to retained earnings. Total capital for the quarter increased 6.4% to 7.5 trillion rubles.

The Core Tier 1 and Tier 1 capital adequacy ratios increased in Q3 by 0.2 percentage points (p.p.) and by 0.1 p.p. to 12.6% and 12.8%, respectively, while the total capital adequacy ratio was up by 0.3 p.p. to 13.6%.

The N20.0 capital adequacy ratio for the banking group as of September 30, 2025, was 13.4% compared to 14.6% as of June 30, 14% as of March 31 and 13.3% as of December 31, 2024.