By Anthony O. Goriainoff
Sberbank Rossia said on Friday that net profit and total assets for 2021 rose.
The Russian bank said that net profit was 1.237 trillion Russian rubles ($16.174 billion).
Sberbank said pretax net profit came in at RUB1.53 trillion and that net interest income increased 12% on year to RUB1.618 trillion, led by its loan portfolio expansion.
Total assets increased by 15% over the period to RUB38 trillion, the bank said.
The lender said its corporate loan portfolio grew by 11% in the year, with the retail loan portfolio growing by 26% and that this was mainly driven by mortgage growth.
"State subsidies and our own subsidized programs notably boosted affordability of mortgages and led to a record growth of the mortgage portfolio by 29%," it said.
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(END) Dow Jones Newswires