Group IFRS Income Statement

Net profit under IFRS earned by Sberbank Group in 2011 increased to RUB 315.9 billion, up 74% on 2010 (RUB 181.6 billion). Profit before tax is RUB 395.7 billion and RUB 230.1 billion for 2011 and 2010 respectively.

The Group’s net profit increased in 2011 on the back of higher operating income before provisions for loan impairment (RUB 742.8 billion in 2011 and RUB 649.8 billion in 2010) and the recovery of provision for loan impairment in the amount of RUB 1.2 billion in 2011 against provision charge in the amount of RUB 153.8 billion in 2010.

Net interest income in 2011 grew 17.1% to RUB 561.0 billion (RUB 479.1 billion in 2010), while the Group’s net fee and commission income grew 13.8% to RUB 140.6 billion.

Administrative and operating expenses are RUB 348.3 billion (RUB 265.9 billion in 2010).

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