Source Pravda.Ru

Sberbank publishes information on its revenues

The revenues of Sberbank were RUR341.4bn (about $10.90bn) in 2001. This information was published in the materials for the general annual shareholder meeting, which was to take place on June 21, 2002. The income from credit operations amounted to 52.1 percent of the total revenues in 2001 and exceeded the level of 2000 by 26.2 percent. Another considerable source of income is operations with securities. They make up 28.2 percent of the bank's revenues.

The bank considers the increase in commission incomes by 1.4 times as its considerable achievement in 2001. The share of commission fees in the net operational incomes grew from 14.6 percent up to 15.8 percent, which exceeded the control level of Sberbank's development concept till 2005. According to this concept, commission incomes are to be 15 percent.

Major expenditures of the bank are paying interest for citizens' deposits. They amount to 39.2 percent of all the expenditures of 2001. Administrative expenditures actually remained unchanged in 2001 and were 8.2 percent against 8.1 percent in 2000. The total amount of budget payments was RUR14.1bn (about $450,088.10m) in 2001.

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