The savings Bank will direct on payment of dividends for the year 2016 20% of net profit

The savings Bank will direct on payment of dividends for the year 2016 20% of net profit

Moscow. 22 Feb. Sberbank of Russia plans to direct for payment of dividends for the year 2016 more than 100 billion rubles, or 20% of net profit for 2016, said the President – Chairman of the Board of Bank Herman Gref at a meeting with President Vladimir Putin.

“All the money that we earned last year, will be sent to the capital, in addition to 20% of the dividends that we will use for payment to shareholders is more than 200 billion rubles, of which more than 100 billion rubles will be allocated in the budget of the Russian Federation through the Central Bank,” said Gref.

Earlier it was reported that the net profit of Sberbank under RAS excluding events after the reporting date (spod) in 2016 increased by 2.2 times – up to 517 billion rubles. In 2015 net profit before Spode made 236,3 billion rubles, taking into account PAYG – 218,4 billion roubles. Financial results according to IFRS for the year 2016, the savings Bank expects to publish on 2 March.

The dividends of the savings Bank since 2012 calculated based on net profit under IFRS. The dividends of the savings Bank for the year 2015 amounted to 1.97 per one ordinary and one preferred share. For their payment was sent to about 20% of the Bank’s net profit under IFRS in 2015 or 44.6 billion rubles.

Earlier, the Deputy Chairman of Sberbank Alexander Morozov said that Sberbank has no plans to raise the issue of increasing the size of dividend payments, discuss this opportunity in achieving the capital adequacy of 12.5%. Sufficiency of fixed capital of the savings Bank on October 1, 2016 under IFRS increased to 11.2% from 8.9% on January 1, 2016, total capital to 14.9% from 12.6%.

Gref during the meeting Putin reminded that the Bank maintains the level of capital adequacy is mainly due to the capitalization of profits. “And we have such a complex indicator is capital adequacy. Because the Bank is the only business where all the time required to maintain a certain level of capital. Since we did not receive money from the state, we fully capitalizename due to our net profit,” he said.