Sberbank Q1 2026 Net Profit Up 16.5% to 507.9 Bln Rubles
Quick Look
- Sberbank reported a 16.5% year-on-year increase in net profit to 507.9 billion rubles ($6.74 billion) for Q1 2026, with return on equity reaching 24.4%.
- Net interest income rose 18.2% to 984.3 billion rubles, while the retail loan portfolio grew 2.5% to 19.7 trillion rubles and mortgage portfolio increased 3.5% to 12.9 trillion rubles.
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Why It Matters
Sberbank is Russia's largest bank and one of the leading financial institutions in Eastern Europe. The bank has shown consistent growth in recent quarters, benefiting from Russia's domestic banking sector and digital financial services expansion.
MOSCOW, April 29. /TASS/. Sberbank's net profit under the International Financial Reporting Standards (IFRS) in the Q1 of 2026 increased by 16.5% to 507.9 bln rubles ($6.74 bln), according to the bank's materials. "Following the results of the first quarter of 2026, Sber Group's net profit increased by 16.5% year-on-year to 507.9 bln rubles. Return on equity reached 24.4%," the report said. Net interest income rose by 18.2% in the Q1 to 984.3 bln rubles ($13.06 bln), while net fee and commission income increased by 0.6% to 204.5 bln rubles ($2.71 bln). According to the report, the group's operating expenses increased by 15.8% year-on-year to 303.5 bln rubles ($4.03 bln), mainly due to higher amortization of intangible assets and increased marketing expenses. Loans and deposits The bank's retail loan portfolio grew by 2.5% over the quarter to 19.7 trillion rubles ($261.47 bln). The mortgage portfolio increased by 3.5% over the quarter to 12.9 trillion rubles ($171.23 bln). Mortgage loan originations amounted to 754 bln rubles ($10.01 bln) in the Q1of 2026. The consumer loan portfolio declined by 0.8% over the quarter to 3.5 trillion rubles ($46.45 bln). Sber's corporate loan portfolio grew by 2.3% over the reporting period to 31.9 trillion rubles ($423.45 bln). Household deposits rose to 33.9 trillion rubles ($450.05 bln), showing a 1.4% increase over the quarter. In the Q1of 2026, 5.1 trillion rubles ($67.70 bln) in corporate loans were issued. Corporate client funds amounted to 15.9 trillion rubles ($211.10 bln) at the end of the quarter and remained virtually unchanged.
