Sberbank has improved its Outlook on net interest margin for 2018

Moscow. October 22. The savings Bank has revised the target for net interest margin in late 2018, with more than 4.5% to over 5%, follows from materials of Bank scheduled for Thursday the presentation of the updated strategy of Sberbank to investors.

As previously reported, by the end of 2015 Sberbank plans to show a margin of 5,6%, which corresponds to the result 2014.

The savings Bank also downgraded its forecast for cost of risk by the end of 2015. If previously in the strategy for 2014-2018 was fixed a goal of 120-150 basis points (b.p), now is in 190 b.p.

As previously reported, the index value of risk of the savings Bank on October 1 amounted to 2%, or 200 basis points compared with 240 b.p. on the 1st of August. In August, Sberbank was named the forecast for cost of risk at the end of 2015 in the amount of 300-350 basis points.

Sberbank’s strategy for 2014-2018 was adopted in 2013. On Thursday in London top managers of Sberbank headed by German Gref will present an updated version of the strategy, taking into account new realities.