February 13, 2018, 16:20 / Finance

Foreign subsidiaries of Sberbank earned 40 billion rubles in 2017

The net profit of Sberbank’s foreign subsidiaries in 2017 according to IFRS remained approximately at the level of 2016, amounting to 40 billion rubles, the president of the state bank German Gref told reporters.

“The net profit in 2017 from foreign subsidiaries amounted to 40 billion rubles, this segment is showing good results,” Gref noted (quotes from Interfax).

In 2016, Sberbank’s international business earned RUB 42.1 billion. net profit. Almost all foreign divisions demonstrated positive results.

Gref added that Sberbank's plans for international expansion have undergone significant changes due to the international situation.

Sberbank has 17 regional banks and more than 19,000 branches. The Russian state bank has branches in the CIS (Kazakhstan, Ukraine and Belarus), in ten countries of Central and Eastern Europe, as well as in Turkey.

Sberbank's net profit under RAS in 2017 amounted to a record 674 billion rubles, an increase of 30% compared to the previous year.