Analysis of the financial results of PJSC Sberbank of Russia. Analysis of the financial condition of ojsc sberbank of russia Analysis of the financial condition of sberbank year

Analysis of the financial condition of Sberbank PJSC

Analysis of the financial results of PJSC Sberbank of Russia. Analysis of the financial condition of ojsc sberbank of russia Analysis of the financial condition of sberbank year

Analysis of the financial condition of Sberbank PJSC

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First of all, it is necessary to say a few words about the internal methodology for assessing the financial condition of OAO Sberbank of Russia. This methodology contains several sections on assessing the financial condition of the bank, but not all of them can be calculated in this work due to the lack of analytical information that is in the public domain. At the first stage, employees of Sberbank of Russia evaluate the dynamics of changes in the bank's assets and liabilities, income and expenses, and profits. Based on the information received, they draw appropriate conclusions and, if necessary, make adjustments to the further activities of the bank. Assessment of assets-liabilities, income-expenses, as well as profit was made in the previous paragraph of the work. Next stage The methodology includes an assessment of the financial condition of a commercial bank, based on a certain set of coefficients. The calculation of ratios based on financial statements is an important component in assessing the entire activity of a credit institution. It acts as a kind of connecting element between various reporting indicators. By the value of the coefficients, the bank employee gives a clear interpretation of the effectiveness of the bank, making, if necessary, certain adjustments. The calculation of coefficients is necessary not only for bank employees to assess the effectiveness of all activities, but also by the numerical values of certain indicators, existing and potential customers can be sure of the reliability of the bank they have chosen, which is a guarantee of the safety of their investments.

The internal methodology of Sberbank for assessing its financial condition consists of coefficients recommended by the Central Bank of the Russian Federation for mandatory calculation, as well as some parameters selected directly by the bank itself.

First of all, bank employees calculate the values of coefficients characterizing the capital and loans of the bank (according to the recommendations of the Central Bank of the Russian Federation). This group includes coefficients: an indicator of general capital adequacy and an indicator of assessing the quality of capital. The indicators characterizing loans are also evaluated, however, due to the lack of publicly available analytical information, it is impossible to evaluate these indicators. In this regard, we estimate only the capital of the bank. The results obtained are placed in the table below. The calculated indicators are found according to the following formulas:

UEC - total capital adequacy;

A - assets;

BA - risk-free assets;

SC - equity.

Table 12

Overall capital adequacy ratio

Based on the obtained values, the total capital adequacy, we see that over the analyzed dates, the bank's own funds provide risky assets by 16.23%, 16.59% and 14.26%, respectively. As of January 1, 2013, the capital adequacy ratio decreased, that is, there was a decrease in investment in risky assets, and the share of risk-free assets increased. Ideally, most economists argue that it is necessary that equity capital be able to fully cover liabilities in the event of a bank failure. However, in practice, these values are not achievable, because they are not compatible with the essence of banking. In our case, the bank's capital is sufficient (min=10%). Bank funds are working.

The next coefficient for assessing the bank's capital, used in the internal methodology of Sberbank of Russia, is an indicator for assessing the quality of capital. The calculation results are also shown in the table below.

QC - quality of capital;

DC - additional capital;

OK - fixed capital.

Table 13

Capital quality indicator of Sberbank of Russia for 2010-2012 (according to RAS)

Based on the obtained values, we see that the capital quality ratio for the considered dates is 96.91%, 95.04% and 97.17%, respectively. The fluctuations of this indicator for all the estimated periods were insignificant. This coefficient shows what share of Tier 1 capital is contained in the total volume of the bank's total capital.

The next element characteristic of the Sberbank methodology is liquidity assessment (it is also carried out in accordance with the recommendations of the Bank of Russia). It is necessary to calculate indicators of instant and current liquidity. The data is presented in the table below.

Table 14

Liquidity indicators of OJSC Sberbank of Russia for 2010-2012

Evaluating the obtained values, we see that for all the periods under review, the liquidity indicators were in the norm. As regards the indicators of instant liquidity, it can be said that there is no risk of loss of liquidity by Sberbank of Russia within one business day for the periods under review. Also, based on the values of current liquidity, we conclude that the risk of liquidity loss by the bank in the next 30 days is also absent.

Further, according to the methodology of OJSC "Sberbank" of Russia, it is necessary to proceed to assessing the effectiveness of the bank's activities. To do this, you need to calculate the profitability ratios. The first indicator corresponds to return on equity (ROE). It is calculated as the ratio of book profit to equity. Next, we evaluate the return on assets (ROA). ROA is found as the quotient of book earnings divided by net assets.

ROE - return on equity;

Pr - balance sheet profit;

E - equity.

ROA - return on assets;

Pr - balance sheet profit;

NA - net assets.

Table 15

Efficiency ratios of JSC "Sberbank" of Russia for 2010-2012 (according to RAS)

Based on the ROE values for the analyzed periods, it can be seen that for each ruble invested in own funds, there were 19.35 kopecks, 26.98 kopecks. and 28.30 kop. profits respectively. This indicator showed a positive trend, which indicates that equity capital brought more and more profit with each estimated period. It can be seen from the calculations that the value of the ROA indicators had a sharp increase in the last period. The calculated values were within acceptable limits (0.5%-5%). We get that for every ruble spent on the formation of net assets, there was a profit in the amount of 3.97 kopecks, 3.96 kopecks. and 5.65 kop. respectively.

After assessing liquidity, balance sheet profitability, capital adequacy and quality, the methodology includes a coefficient assessment of income and expenses. To do this, you need to calculate the ratio of interest income and expenses, the cost effectiveness ratio and operating efficiency.

KSKPD - ratio of commission and interest income;

KD - commission income;

PD - interest income.

KSPDR -;

PD - interest income;

PR - interest expenses.

KEF - cost effectiveness ratio;

D - total income;

R - total expenses.

OE - operational efficiency;

OD - operating income;

OR - operating expenses.

Table 16

Ratio of commission and interest income

OJSC "Sberbank" of Russia for 2010-2012 (according to RAS)


Commission income, thousand rubles
Interest income, thousand rubles
Ratio of commission and interest income

We get that the ratio of risk-free and risky income in JSC "Sberbank" of Russia for 2010-2012 was equal to 14.87%, 16.02% and 16.47%, respectively. This indicator evaluates the ratio of levels of risk-free and risky income. For countries with economies in transition, it is desirable to have the largest possible ratio of estimated income to ensure the reliability of banking activities.

Table 17

Interest income-to-expense ratio

OJSC "Sberbank" of Russia for 2010-2012 (according to RAS)


Interest income, thousand rubles
Interest expenses, thousand rubles
Interest income-to-expense ratio

As a result, we get the result that the ratios of interest income and expenses in OJSC Sberbank of Russia for 2010-2012 were equal to 2.71, 3.20 and 3.58, respectively. This indicator assesses the ability of a credit institution to earn profit from its core activities. The values of the indicator are at a very high level.

Table 18

Cost efficiency ratio of Sberbank of Russia for 2010-2012 (according to RAS)


Total income, thousand rubles
Total expenses, thousand rubles
Cost effectiveness ratio

Based on the obtained values, we see that the cost efficiency ratio in OJSC Sberbank of Russia for 2010-2012 was equal to 0.95, 0.71 and 0.67, respectively. This indicator assesses the effectiveness of a commercial bank as a whole. The values of the estimated indicator are decreasing from period to period, which indicates that Sberbank is pursuing the correct cost management policy.

Table 19

OJSC "Sberbank" of Russia for 2010-2012 (according to RAS)


Operating income, thousand rubles
Operating expenses, thousand rubles
Operating efficiency ratio

We get that in its activities, JSC "Sberbank" of Russia had an operating efficiency ratio for the analyzed periods equal to 2.92, 2.89 and 2.82, respectively. The Bank can fully cover existing operating expenses from operating income. The activities of Sberbank of Russia are efficient.

The next step in assessing the financial condition of a bank, the internal methodology takes into account the calculation of mandatory ratios developed by the Central Bank of the Russian Federation for commercial banks.

Data on the values of the standards are presented in the table below.

Table 20

Mandatory ratios of Sberbank of Russia as of 01.01.2013

Standard (%)

Based on the obtained values, we see that each of the estimated standards lies within the required limits. This suggests that the commercial bank complies with all the requirements of the Bank of Russia. His financial condition is under control.

Also, the internal methodology of Sberbank includes risk assessment and management. However, these operations are not possible due to the fact that the data necessary for the assessment are not published in the public domain.

Summing up the evaluation of the activities of OAO Sberbank of Russia based on an internal methodology (based on a system of coefficients), we can conclude that, for all the evaluated parameters, the results of the bank's functioning are normal. In the course of the evaluation, we obtained rather high values of the main coefficients. It can be seen that Sberbank of Russia has chosen the right development strategy, which allows achieving such significant results. The results obtained earlier when evaluating the position of the bank in the market, as well as assessing the structure of assets-liabilities, income-expenses, profits fully coincide with the coefficient assessment. In all cases, there is a stable development of the credit institution, which, in turn, has a positive effect on its activities.

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The object of the study is the analysis of the financial condition of the bank. The subject of the study is the analysis of the financial condition of Sberbank OJSC. The purpose of the work is to develop recommendations on the product of the financial condition, using the example of Sberbank OJSC. The paper considers the concept, essence and types of analysis of the financial condition of the bank. Various aspects of the legal regulation of the analysis and audit of the financial condition of the bank are studied.

An analysis of the financial condition of Sberbank OJSC was carried out.

Based on the data obtained during the analysis, recommendations were developed to improve the use of the analysis of the financial condition of Sberbank OJSC.

INTRODUCTION

bank economic reporting

In the context of ongoing market instability and a crisis in banks, the problem of identifying the reliability of a commercial bank becomes especially relevant, it is necessary to correctly assess the position of a particular bank, make the banking system more "transparent" and predictable, which in turn is trying to make the Central Bank of the Russian Federation.

The importance of extensive information for the successful and efficient operation of both the banking system as a whole and for individual banks cannot be overestimated. This is due to the diversity of their relationships with clients and shareholders, partners and competitors, the Central Bank of the Russian Federation and authorities, the public, and the media.

Of particular importance in a huge amount of diverse information is the ability to analyze it when making strategically important decisions in a situation influenced by various factors caused by the action of many contradictory, difficult to predict crisis processes in the economy, politics, and public life. The effect of a sound economic decision is determined by the correct assessment and comparison of one's own capabilities with the needs and conditions of the market. This applies to the activities of commercial banks, perhaps even more so than to other areas of business, since an erroneous assessment and an incorrect decision can lead to the liquidation of the bank or cause serious material damage to customers, including citizens, although at present time deposits of citizens are insured.

The object of the study is Sberbank OJSC. The subject of the study is an assessment of the financial condition of Sberbank OJSC.

The purpose of the work is to analyze the financial condition of Sberbank OJSC, identify problems (if any), develop recommendations for solving problems, or improve competitiveness in the market.

To achieve this goal, it is necessary to solve the following tasks:

consider the characteristics of Sberbank OJSC;

analyze the main economic and financial indicators of the bank for 2012-2014;

make a vertical and horizontal analysis of the financial statements of Sberbank OJSC;

to analyze the standards of the Central Bank of the Russian Federation;

to analyze the indicators of the financial condition of Sberbank OJSC;

assess the financial position of Sberbank OJSC;

Course work consists of Introduction, three chapters, Conclusion, Bibliographic list, Applications.

The first chapter discusses the characteristics of Sberbank OJSC.

In the second chapter, the necessary analyzes are carried out to assess the financial condition of Sberbank OJSC.

1 . DESCRIPTION OF THE BANK'S ACTIVITIES

bank economic reporting

1.1 Brief description of the bank

Sberbank OJSC is the largest bank in Russia and one of the leading global financial institutions. Sberbank accounts for about a third of the assets of the entire Russian banking sector. Sberbank is a key lender for national economy and occupies the largest share in the deposit market. The founder and main shareholder of Sberbank OJSC is the Central Bank of the Russian Federation, which owns 50% of the charter capital plus one voting share. The other 50% of the Bank's shares are owned by Russian and international investors. More than 135 million individuals and about 1 million enterprises in 22 countries use the services of Sberbank. The bank has the most extensive branch network in Russia: about 17,000 branches and internal structural divisions. The Bank's foreign network consists of subsidiaries, branches and representative offices in the UK, USA, CIS, Central and Eastern Europe, Turkey and other countries.

The leader of the Russian banking sector in terms of total assets accounts for 29.4% of total banking assets (as of August 1, 2014).

The Bank is the main creditor of the Russian economy and holds the largest share in the deposit market. It accounts for 46.4% of household deposits, 34.7% of loans to individuals and 33.9% of loans to legal entities.

Sberbank today is 16 territorial banks and more than 17 thousand branches throughout the country, in 83 constituent entities of the Russian Federation, located on the territory of 11 time zones.

Only in Russia, Sberbank has more than 110 million customers - more than half of the country's population, and about 11 million people use Sberbank's services abroad.

The range of Sberbank services for retail clients is as wide as possible: from traditional deposits and various types of loans to bank cards, money transfers, bank insurance and brokerage services.

All retail loans at Sberbank are issued using the Loan Factory technology, which was created to efficiently assess credit risks and ensure a high quality loan portfolio.

In an effort to make the service more convenient, modern and technologically advanced, Sberbank is improving the possibilities of remote management of customer accounts every year. The bank has created a system of remote service channels, which includes:

Online banking "Sberbank Online" (more than 13 million active users);

Sberbank Online mobile applications for smartphones (more than 1 million active users)

SMS-service "Mobile Bank" (more than 17 million active users).

One of the world's largest networks of ATMs and self-service terminals (more than 90 thousand devices).

Sberbank is the largest issuer of debit and credit cards. The joint bank established by Sberbank and BNP Paribas is engaged in POS lending under the Cetelem brand, using the concept of "responsible lending".

Among the clients of Sberbank are more than 1 million enterprises (out of 4.5 million registered legal entities in Russia). The bank serves all groups of corporate clients, with small and medium-sized companies accounting for more than 35% of the bank's corporate loan portfolio. The rest is lending to large and largest corporate clients.

Sberbank today is a team of more than 260,000 qualified employees working to turn the bank into the best service company with world-class products and services.

Sberbank today is a powerful modern bank that is rapidly transforming into one of the world's largest financial institutions. In recent years, Sberbank has significantly expanded its international presence. In addition to the CIS countries (Kazakhstan, Ukraine and Belarus), Sberbank is represented in nine countries of Central and Eastern Europe (SberbankEurope AG, former VBI) and in Turkey (DenizBank).

The acquisition of DenizBank was completed in September 2012 and was the largest acquisition in the Bank's more than 170-year history. Sberbank of Russia also has representative offices in Germany and China, a branch in India, managed by SberbankSwitzerland AG. In 2013, the official launch of the Sberbank brand in Europe took place.

Sberbank today is the only Russian bank included in the top 50 largest banks in the world. In the ranking of the top 1000 largest banks in the world by capital (Top 1000 WorldBanks), published by TheBanker magazine, Sberbank took 34th place, up 15 positions compared to the previous year. It is also important that Sberbank is ranked 1st in the world in terms of return on assets (ROA), 1st in terms of return on equity (ROE), and 5th in the world in terms of capital to assets ratio.

In 2013, Sberbank took 63rd place in the ranking of the most expensive global brands published by the BrandFinance consulting company. The cost of the Sberbank brand is estimated at $14.16 billion: over the year it has grown by almost $3.4 billion. Thus, Sberbank has been recognized as the most expensive brand in Russia.

The main shareholder and founder of Sberbank of Russia is the Central Bank of the Russian Federation, which owns 50% of the authorized capital plus one voting share. Other shareholders of the Bank are international and Russian investors.

The bank's ordinary and preferred shares have been listed on Russian stock exchanges since 1996. American Depositary Receipts (ADRs) are listed on the London Stock Exchange, admitted to trading on the Frankfurt Stock Exchange and on the OTC market in the United States.

1.2 Key economic and financial indicators of the bank for 2012-2014

Based on the results of the Sberbank group, according to IFRS, the main economic and financial indicators are as follows. The Group's net profit for 9 months of 2014 amounted to 241.3 billion rubles. (or 11.13 rubles per ordinary share) compared to net profit for 9 months of 2013 in the amount of 268.3 billion rubles. (or 12.40 rubles per ordinary share). The Group's operating income before provisions for impairment of debt financial assets amounted to RUB 960.6 billion, showing an increase of 18.8% compared to the nine months of 2013 (RUB 808.6 billion). Operating expenses increased by 10.2% compared to the nine months of 2013, which is slower than the growth rate of operating income before the provision for impairment of the loan portfolio. As a result, the cost-to-income ratio improved to 41.5% from 44.8% in the nine months of 2013.

The interest margin has decreased compared to the nine months of 2013, but remains at a comfortable level of 5.7%. Profitability own funds remained high at 16.6% in nine months of 2014 compared to 20.9% in nine months of 2013.

The annualized cost of risk increased from 1.23% in nine months of 2013 to 2.31% in nine months of 2014.

Total assets grew in the nine months of 2014 by 13.6%.

The main source of growth was loans and advances to customers, which grew by 16.4% in the first nine months of 2014.

The share of non-performing loans in the loan portfolio increased from 2.9% as of December 31, 2013 to up to 3.5% as of September 30, 2014 The Group's core capital adequacy ratio for the nine months of 2014 decreased by 50 basis points and amounted to 10.1%.

The Group's net profit for 2013 amounted to RUB 362.0 billion. (or 16.78 rubles per ordinary share), which is 4.1% more than the net profit for 2012 in the amount of 347.9 billion rubles. (or 16.03 rubles per ordinary share). The operating income of the Group before provisions for impairment of the loan portfolio amounted to RUB 1,103.8 billion, showing an increase of 19.9% compared to 2012 (RUB 920.8 billion). Operating expenses increased by 14.0% compared to 2012, which is slower than the growth rate of operating income before the provision for impairment of the loan portfolio. As a result, the ratio of operating expenses to operating income improved to 46.6% compared to 49.0% in 2012.

Interest margins decreased by 20 basis points compared to 2012, but remain at a comfortable level of 5.9%. The return on equity remained high and amounted to 20.8% in 2013 compared to 24.2% in 2012.

The annualized cost of risk increased from 0.2% in 2012 to 1.1% in 2013.

The total assets of the Group grew in 2013 by 20.6%. The share of non-performing loans in the loan portfolio decreased from 3.2% as of December 31, 2012 to up to 2.9% as of December 31, 2013

The Group's core capital adequacy ratio for 2013 increased by 20 basis points and amounted to 10.6%.

Priority areas of activity of Sberbank:

Corporate business: servicing settlement and current accounts, opening deposits, providing all types of financing, issuing guarantees, servicing export-import transactions of clients, collection services, cash services, conversion services, services for transferring funds by the population in favor of legal entities, operations with bills of exchange and others

Retail business: provision of banking services to individual clients for accepting funds on deposits, lending, servicing bank cards, operations with precious metals, savings certificates and bills, buying and selling foreign currency, payments, money transfers, including without opening bank accounts , storage of valuables, etc.

Operations in financial markets: with securities, derivatives

financial instruments, foreign currency; placement and attraction of funds in the interbank market and capital markets, etc.

In addition to banking operations, the Bank issues guarantees for third parties, acquires the right to claim from third parties, trust management of funds, professional activities in the securities market, including brokerage, dealer and depositary activities.

From the above, we can conclude that Sberbank is the leader in the Russian Federation, and the reduction of some is only temporary difficulties that Sberbank can easily cope with.

2. FINANCIAL ANALYSIS OF SBERBANK ACTIVITIES

2.1 Vertical and horizontal analysis of the financial statements of Sberbank OJSC

Vertical and horizontal analysis based on financial statements is advisable to carry out at the initial stage of the economic analysis of the enterprise. Very often, it can be viewed as an auxiliary stage, during which those aspects are identified that will require further in-depth and comprehensive analysis. Vertical analysis makes it possible to single out, taking into account industry specifics, the most important property components and sources of financial resources for a given enterprise, while horizontal analysis reveals the most significant changes in the structure of property and directions of financing that took place in the period under review.

Vertical analysis gives an idea of the structure of enterprise funds and their sources, expressed not in absolute units, but in shares or percentages. The balance currency is taken as a unit, or 100%, and each absolute indicator is calculated either in shares or as a percentage in relation to the final balance indicator. Relative indicators are to a certain extent freed from the negative impact of inflationary processes, which allows for a more objective analysis economic activity in dynamics.

Table 1 - Vertical analysis of the assets of Sberbank OJSC

Name	Specific weight, %
	as of 01.01.2012	as of 01.01.2013	as of 01.01.2014


1. Cash

2. Required reserves




6.1. Investments in subsidiaries and affiliates


9.Other assets
10.Total assets

From the vertical analysis of the bank's assets, it can be concluded that the main part of the assets is the net loan debt, for four years it amounted to more than 70% of the total assets. Net investments in securities and other available-for-sale financial assets also make up a significant portion of Sberbank's assets, net investments in securities held to maturity and property, plant and equipment, cash, intangible assets and inventories have values from 2% to 4%, which is also not unimportant in the structure of assets. Funds of credit institutions in the Central Bank of the Russian Federation and other assets account for 1-3% in the structure. Investments in subsidiaries and affiliates increased sharply in 2013 and amounted to 2.07%. Vertical analysis (i.e. vertical analysis of puffiness indicators) is aimed at studying the structure of property, liabilities, income, expenses of the organization.

The verification analysis of the balance sheet asset gives an idea of the share of fixed assets, intangible assets, inventories, receivables and other types of property in the total assets of the enterprise (vertical analysis of the balance sheet asset). Having determined the percentage share of each indicator in the total, the analyst has the opportunity to compare the enterprise according to these indicators with other enterprises, which is impossible if we use absolute values.

Figure 1 - The structure of assets in the dynamics of "Sberbank"

Figure 1 illustrates the change in the asset structure of Sberbank. The figure clearly shows that a significant part of the balance sheet assets is net loan debt.

In terms of balance sheet liability, a structural analysis of own and borrowed funds is carried out, as well as the composition of borrowed funds by maturity (long-term and short-term obligations). It is impossible to perform the basic functions of banks without resources. Liabilities are the resources of banks. In the economic environment, liabilities are often referred to simply as the "sources" of the bank's resources. It is liabilities and passive operations that largely predetermine the conditions, forms and directions for the use of resources.

Table 2 - Vertical analysis of liabilities, sources of own funds and off-balance sheet liabilities of Sberbank

Name	Specific weight, %
	as of 01.01.2012	as of 01.01.2013	as of 01.01.2014
Liabilities



13.1.Deposits of individuals


16.Other liabilities

18.Total liabilities
Sources of own funds


21. Share premium
22. Reserve fund





Off-balance sheet liabilities

From the vertical analysis of the bank's liabilities, it can be concluded that the main part is the funds of customers who are not credit institutions (more than 80%), including deposits of individuals (more than 60%). Loans, deposits and other funds of the Central Bank of the Russian Federation have been increasing from 6 to 13% over the years, the funds of credit institutions are approximately at the same level, however, a decline is observed. Sources of own funds, 40-60% is retained earnings of previous years. Unused profit (loss) for the reporting period, although it tends to decrease, is approximately 20% of the total sources of own funds. The fair value revaluation of securities available-for-sale in 2011 and 2013 is negative. Irrevocable liabilities of the credit institution play the main role in off-balance sheet liabilities, approximately 75% of all off-balance sheet liabilities. about 25% are guarantees and guarantees issued by the credit institution. Contingent liabilities of a non-credit nature make up an insignificant part, less than 1%.

Figure 2 - The structure of liabilities in the dynamics of Sberbank OJSC

Horizontal analysis is carried out by compiling one or more analytical tables, in which the absolute amounts of changes and relative changes are calculated.

For a horizontal analysis of the balance sheet, tables can be drawn up in the context of assets and liabilities, as well as in the context of individual groups of assets and liabilities. The horizontal analysis of assets is shown in Table 3.

Table 3 - Horizontal analysis of the assets of Sberbank OJSC

Name	Deviation
	Absolute deviation, rub.	Relative deviation, %
	for 2012	for 2013	for 2012	for 2013

1. Cash
2. Funds of credit institutions in the Central Bank of the Russian Federation
2.1Required reserves
3. Funds in credit institutions
4. Net investments in securities at fair value through profit or loss
5.Net loan debt
6. Net investments in securities and other financial assets available-for-sale

7. Net investments in securities held to maturity
8. Fixed assets, intangible assets and inventories
9.Other assets
10.Total assets

Based on the horizontal analysis, it can be observed that in 2012 only in the article net investments in securities held to maturity, the absolute deviation turned out to be a negative value, which indicates a decrease in net investments in securities held to maturity by 55,203 thousand rubles .

The increase occurred in the items funds of credit institutions in the Central Bank of the Russian Federation, net investments in securities at fair value through profit or loss, funds in credit institutions, investments in subsidiaries and affiliates, the increase here turned out to be more than 200%.

In 2013, funds decreased significantly by RUB 7,731 thousand. and required reserves for 10,244 thousand rubles.

The increase in other indicators was insignificant compared to 2012, none of the indicators exceeded 200%.

The next stage of the analysis is a horizontal analysis of liabilities, made in table 4, sources of own funds and off-balance sheet liabilities of Sberbank OJSC.

Table 4 - Horizontal analysis of liabilities, sources of own funds and off-balance sheet liabilities of Sberbank OJSC

Name	Deviation
	Absolute deviation, rub.	Relative deviation, %
	for 2012	for 2013	for 2012	for 2013

11. Loans, deposits and other funds of the Central Bank of the Russian Federation
12. Funds of credit organizations
13. Funds of clients that are not credit institutions
13.1Deposits of individuals
14. Financial liabilities at fair value through profit or loss
15.Issued debt obligations
16.Other liabilities
17. Provisions for possible losses on contingent credit obligations, other possible losses and transactions with residents of offshore zones
18.Total liabilities
Sources of own funds
19. Funds of shareholders (participants)
20.Own shares (shares) redeemed from shareholders (participants)
21. Share premium
22. Reserve fund
23. Revaluation at fair value of securities available for sale
24. Revaluation of fixed assets
24. Retained earnings (uncovered losses) of previous years
26. Unused profit (loss) for the reporting period
27.Total sources of own funds
Off-balance sheet liabilities
28. Irrevocable obligations of a credit institution
29. Guarantees and guarantees issued by a credit institution
30. Contingent liabilities of a non-credit nature
31.Total off-balance sheet liabilities

Table 4 shows that in 2012 there was a decrease in the following items: Provisions for possible losses on contingent liabilities of a credit nature, other possible losses and transactions with residents of offshore zones, revaluation of fixed assets, when, as in 2013, a decrease can be seen in the revaluation at fair value securities available for sale and revaluation of property, plant and equipment. A significant increase can be seen in loans and deposits and other funds of the Central Bank of the Russian Federation, issued debt obligations, contingent liabilities of a non-credit nature - more than 200% in 2012, when in 2013 the increases were insignificant.

To characterize the intensity of development over time, statistical indicators are used, obtained by comparing the levels with each other. In the course of the study, it is necessary to compare several successive levels, then you can get either a comparison with a constant base (base indicators) or a comparison with a variable base (chain indicators).

Thus, we calculate the growth rate of Sberbank OJSC, we calculate it in table 5.

Table 5 - Growth rate of balance sheet assets of Sberbank OJSC

Name	Growth rate (growth rate), %

	for 2012	for 2013

1. Cash
2. Funds of credit institutions in the Central Bank of the Russian Federation
2.1Required reserves
3. Funds in credit institutions
4. Net investments in securities at fair value through profit or loss
5.Net loan debt
6. Net investments in securities and other financial assets available-for-sale
6.1 Investments in subsidiaries and affiliates
7. Net investments in securities held to maturity
8. Fixed assets, intangible assets and inventories
9.Other assets
10.Total assets

It is observed that for 2012 only in the article net investments in securities held to maturity, the absolute deviation turned out to be a negative value, which indicates a decrease in net investments in securities held to maturity. The largest increase occurred in items due to credit institutions with the Central Bank of the Russian Federation, net investments in securities at fair value through profit or loss.

In 2013, cash and required reserves decreased significantly.

Table 6 - Growth rate of liabilities, sources of own funds and off-balance sheet liabilities of Sberbank OJSC

Name	Growth rate (growth rate), %

	for 2012	for 2013

11. Loans, deposits and other funds of the Central Bank of the Russian Federation
12. Funds of credit organizations
13. Funds of clients that are not credit institutions
13.1Deposits of individuals
14. Financial liabilities at fair value through profit or loss
15.Issued debt obligations
16.Other liabilities
17. Provisions for possible losses on contingent credit obligations, other possible losses and transactions with residents of offshore zones
18.Total liabilities
Sources of own funds
19. Funds of shareholders (participants)
20.Own shares (shares) redeemed from shareholders (participants)
21. Share premium
22. Reserve fund
23. Revaluation at fair value of securities available for sale
24. Revaluation of fixed assets
25. Retained earnings (uncovered losses) of previous years
26. Unused profit (loss) for the reporting period
27.Total sources of own funds
Off-balance sheet liabilities
28. Irrevocable obligations of a credit institution
29. Guarantees and guarantees issued by a credit institution
30. Contingent liabilities of a non-credit nature
31.Total off-balance sheet liabilities

Table 6 shows that in 2012 there was a decrease in the following items: Provisions for possible losses on contingent liabilities of a credit nature, other possible losses and transactions with residents of offshore zones, revaluation of fixed assets, when, as in 2013, a decrease can be seen in the revaluation at fair value securities available for sale and revaluation of property, plant and equipment. A significant increase can be seen in loans and deposits and other funds of the Central Bank of the Russian Federation, issued debt obligations, contingent liabilities of a non-credit nature for 2012, when in 2013 the increases were insignificant.

In the same way, the analysis of reports on financial results. First of all, a vertical analysis of the statement of financial results is carried out. The income statement is one of the main forms of financial statements that characterizes the financial results of the organization's activities for the reporting period and contains data on income, expenses and financial results in the amount on an accrual basis from the beginning of the year to the reporting date. The statement of financial results is the most important source for analyzing the profitability of an enterprise, the profitability of products sold, the profitability of production, as well as for determining net profit.

Table 7 - Vertical analysis of the statement of financial results of Sberbank OJSC

Name	Specific weight, %

	for 2012	for 2013




From investing in securities














12. Fee and commission income
13.Commission expenses



17.Other operating income
18. Net income (expenses)
19. Operating expenses




Distribution among shareholders (participants) in the form of dividends
Deductions for the formation and replenishment of the reserve fund

A vertical analysis of the income statement shows that interest income from loans granted to customers that are not credit institutions accounts for almost 90% of the total interest income. As for interest expenses, most of them are interest expenses on attracted funds from clients that are not credit institutions - 80%, 17% are interest expenses on attracted funds from credit organizations. The next step in the income statement is the horizontal analysis shown in Table 8.

Table 8 - Horizontal analysis of the statement of financial results of Sberbank OJSC

Name	Deviation	Growth rate (growth rate), %
	Absolute deviation	Relative deviation

1. Interest income, total, including:
From the placement of funds in credit institutions
From loans to customers other than credit institutions
From providing services to financial lease(leasing)
From investing in securities
2. Interest expenses, total, including:
For borrowed funds from credit institutions
On attracted funds of clients that are not credit institutions
For issued debt
3.Net interest income (negative interest margin)
4. Change in the provision for possible losses on loans, loan and equivalent debt, funds placed on correspondent accounts, as well as accrued interest income, total, including:
Change in provision for possible losses on accrued interest income
5.Net interest income (negative interest margin) after provisioning for possible losses
6. Net income from securities transactions at fair value through profit or loss
7. Net income from operations with securities available-for-sale
8. Net income from operations with securities held to maturity
9. Net income from foreign exchange operations
10.Net income from foreign currency revaluation
11. Income from participation in the capital of other legal entities
12. Fee and commission income
13.Commission expenses
14. Change in allowance for possible losses on securities available-for-sale
15. Change in provision for possible losses on securities held to maturity
16. Change in provision for other losses
17.Other operating income
18. Net income (expenses)
19. Operating expenses
20. Profit (loss) before tax
21. Accrued (paid) taxes
22. Profit (loss) after tax
23. Payments from profit after taxation, total, including:
24. Unused profit (loss) for the reporting period

Horizontal analysis of the statement of financial results allows us to conclude that interest income from the placement of funds in credit institutions increased by 92%. Interest expenses on issued debt increased by 15%. Change in the provision for possible losses on loans, loan and equivalent debt, funds placed on correspondent accounts, as well as accrued interest income with a negative value. The growth rate of more than 100% was in net income from operations with securities available for sale. There was also an increase in the lines: interest income and expenses, net interest income (negative interest margin), change in the provision for possible losses on accrued interest income, net interest income (negative interest margin) after the creation of a provision for possible losses, net income from operations with available-for-sale securities, fee and commission income, fee and commission expenses, other operating income, net income (expenses), operating expenses, profit (loss) before tax.

2.2 Analysis of the regulations of the Central Bank of the Russian Federation

The standards of the Central Bank of the Russian Federation are regulated by the Instruction of the Bank of Russia dated December 3, 2012 N 139-I (as amended on February 16, 2015) "On mandatory bank ratios".

The first ratio is the bank's own funds (capital) adequacy ratio (H1). Regulates (limits) the risk of bank insolvency and determines the requirements for the minimum amount of the bank's own funds (capital) required to cover credit, operational and market risks. The H1 ratio is defined as the ratio of the bank's own funds (capital) and the amount of its assets, weighted by the level of risk. This indicator is calculated by formula 1.

where K - own funds (capital) of the bank;

Risk coefficient of the i-th asset;

I-th asset of the bank;

The amount of the reserve for possible losses or the reserve for possible losses on loans, on loan and equivalent debt of the i-th asset (code 8987);

KRV -- the amount of credit risk on contingent liabilities of a credit nature;

KRS -- the amount of credit risk for futures transactions;

RR -- the amount of market risk.

The next standard is the bank's instant liquidity ratio (N2) regulates (limits) the risk of a bank losing liquidity within one business day and determines the minimum ratio of the amount of the bank's highly liquid assets to the amount of the bank's liabilities (liabilities) on demand accounts, adjusted by the value of the minimum total balance of funds on demand accounts of individuals and legal entities, determined in the manner prescribed by clause 3.6 of this Instruction. The bank's instant liquidity ratio (N2) is calculated using the following formula:

where Lam -- highly liquid assets;

Ovm - obligations (liabilities) on demand accounts, for which the depositor and (or) creditor may demand their immediate repayment;

-- the value of the minimum aggregate balance of funds on demand accounts of individuals and legal entities.

The minimum allowable numerical value of the H2 standard is set at 15 percent.

The current liquidity ratio of a bank (N3) regulates (limits) the risk of a bank losing liquidity within 30 calendar days closest to the date of calculation of the ratio and determines the minimum ratio of the amount of the bank's liquid assets to the amount of the bank's liabilities (liabilities) on demand accounts and with a maturity date of the next 30 calendar days, adjusted by the amount of the minimum total balance of funds on the accounts of individuals and legal entities on demand and with a deadline for fulfilling obligations in the next 30 calendar days. The bank's current liquidity ratio (N3) is calculated using the following formula:

where Lat is liquid assets, that is, financial assets that must be received by the bank and (or) can be claimed within the next 30 calendar days, and (or) if necessary, sold by the bank within the next 30 calendar days in order to receive funds within the specified time frame.

Ovm - liabilities (liabilities) on demand accounts, for which the depositor and (or) the creditor may demand their immediate repayment.

The value of the minimum total balance of funds on demand accounts of individuals and legal entities.

The bank's long-term liquidity ratio (N4) regulates (limits) the risk of a bank losing liquidity as a result of placing funds in long-term assets and determines the maximum allowable ratio of bank credit claims with a remaining maturity of more than 365 or 366 calendar days to the bank's own funds (capital) and liabilities (liabilities) with a remaining maturity of more than 365 or 366 calendar days, adjusted by the amount of the minimum total balance of funds on accounts with a maturity of up to 365 calendar days and demand accounts of individuals and legal entities. The bank's long-term liquidity ratio (N4) is calculated using the following formula:

where Krd - credit claims with a remaining term until the maturity date of more than 365 or 366 calendar days, as well as prolonged ones, if, taking into account the newly established terms of repayment of credit claims, the time remaining until their repayment exceeds 365 or 366 calendar days, minus the formed reserve for possible losses on the specified credit claims;

OD - obligations (liabilities) of the bank on loans and deposits received by the bank, with the exception of the amount of the subordinated loan (loan, deposit) received by the bank in terms of the residual value included in the calculation of the bank's own funds (capital), as well as on debt circulating on the market bank liabilities with a remaining maturity over 365 or 366 calendar days;

The maximum amount of risk per one borrower or a group of related borrowers or H6 regulates (limits) the bank's credit risk in relation to one borrower or a group of related borrowers and determines the maximum ratio of the total amount of obligations of the borrower (borrowers included in the group of related borrowers) to the bank and obligations to third parties. persons, as a result of which the bank has claims in respect of the specified borrower (borrowers included in the group of related borrowers), to the bank's own funds (capital).

The maximum risk limit per borrower or group of related borrowers (N6) is calculated using the following formula:

where Krz is the total amount of the bank's credit claims against the borrower (group of related borrowers) arising from the obligations of the borrower (borrowers included in the group of related borrowers) to the bank and to third parties, as a result of which the bank has claims in respect of the specified borrower (borrowers, included in the group of related borrowers), net of the formed provision for possible losses on the specified claims. The norm of the maximum amount of large credit risks (N7) regulates (limits) the total amount of large credit risks of the bank. The maximum size of large credit risks (N7) is calculated using the following formula:

where Ксрi is the i-th large credit risk minus the formed reserve for possible losses on the relevant credit claims (contingent liabilities of a credit nature)

The ratio of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1) regulates (limits) the bank's credit risk in relation to the participants (shareholders) of the bank and determines the maximum ratio of the amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) to the bank's own funds (capital).

The ratio of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1) is calculated using the following formula:

where Kra is the value of the i-th credit requirement of the bank, as well as the credit risk on contingent liabilities of a credit nature, derivative financial instruments in relation to participants (shareholders) who have the right to dispose of 5 or more percent of the shares (voting shares) of the bank, minus the formed allowance for possible losses on the specified credit claims.

Ratio H10.1 defines the maximum ratio of the total amount of credit claims to insiders to the bank's own funds (capital). The standard for the total amount of risk for bank insiders (N10.1) is calculated using the following formula:

where Krsi -- the value of the i-th credit claim to the bank's insider, credit risk on contingent liabilities of a credit nature.

The ratio of using the bank's own funds (capital) to acquire shares (stakes) in other legal entities (N12) regulates (limits) the total risk of the bank's investments in shares. The ratio of using the bank's own funds (capital) for the acquisition of shares (stakes) of other legal entities (N12) is calculated using the following formula:

where Kii is the value of the bank's i-th investment in shares (stakes) of other legal entities minus the formed reserve for possible losses on these investments.

Table 9 - Analysis of the standards of the Central Bank of the Russian Federation

Norm of the Central Bank of the Russian Federation	Standard value	Actual value as of 01/01/2014	Actual value as of 01/01/2013
Bank's own funds (capital) adequacy ratio (N1)
Bank instant liquidity ratio (N2)
Bank's current liquidity ratio (N3)
Bank's long-term liquidity ratio (N4)
Maximum risk limit per borrower or group of related borrowers (N6)			Max 16,7
Maximum size of large credit risks (N7)
The norm of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1)
Total risk ratio for bank insiders (N10.1)
Normative use of own funds (capital) of the bank for the acquisition of shares (stakes) of other legal entities (N12)

Based on table 9, we can conclude that Sberbank OJSC complies with the standards of the Bank of Russia. The bank's instant liquidity ratio exceeds the minimum value by an average of 3.5 times over two years. In 2012, the bank's current liquidity ratio was exceeded significantly more than in 2013, but nevertheless, the ratio was met. The bank's long-term liquidity ratio for 2012-2013 is normal. The standard for the maximum amount of risk per borrower or group of related borrowers also corresponds to the standard value for the given period. The norm of the maximum amount of large credit risks was observed during 2012-2013. The same can be said about the standard for the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders). Also, the standard for the total amount of risk for the bank's insiders and the standard for using the bank's own funds (capital) for the acquisition of shares (stakes) of other legal entities were observed.

2.3 Analysis of indicators of the financial condition of Sberbank OJSC

At the first stage, the dynamics of changes in the bank's assets and liabilities, income and expenses, and profits are assessed. This is done on the basis of the information received, the relevant conclusions and, if necessary, make adjustments to the further activities of the bank. The assessment of assets-liabilities, income-expenses, as well as profits was made in the previous paragraphs of the work. The next stage of the methodology includes an assessment of the financial condition of a commercial bank, based on a limited set of coefficients. The calculation of ratios based on financial statements is an important component in assessing the entire activity of a credit institution. It acts as a kind of connecting element between various reporting indicators. By the value of the coefficients, the bank employee gives a clear interpretation of the effectiveness of the bank, making, if necessary, certain adjustments. The calculation of coefficients is necessary not only for bank employees to assess the effectiveness of all activities, but also by the numerical values of certain indicators, existing and potential customers can be sure of the reliability of the bank they have chosen, which is a guarantee of the safety of their investments.

Consider the balance sheet of Sberbank PJSC for 2015, 2014 and 2013 and draw conclusions.

Table 1

Balance sheet of PJSC Sberbank

Name of indicator
Cash
Funds in the Bank of Russia




Net debt


Total assets
Funds of the Bank of Russia
Bank funds
Client funds

Financial assets at fair value through profit or loss
Other liabilities
Provisions for other losses
Sources of own funds
Total liabilities

Based on the indicators of the balance sheet of Sberbank PJSC, we compare 2015, 2014 and 2013, and calculate the indicators as a percentage. Table 2 calculates the balance sheet indicators as a percentage.

table 2

Balance sheet of PJSC Sberbank, in %

Name of indicator
Cash
Funds in the Bank of Russia
Funds in credit institutions
Net investments in securities for sale
Net investments in securities held for redemption
Financial assets at fair value through profit or loss
Net debt
Fixed assets, inventories

Total assets
Funds of the Bank of Russia
Bank funds
Client funds
Issued debt
Financial assets at fair value through profit or loss
Other liabilities
Provisions for other losses
Sources of own funds
Total liabilities

We will also draw up the structure of the assets and liabilities of the bank as of 01/01/2016.

Assets for 2015 grew by 4.4% and amounted to 22,707 billion rubles. Their growth was mainly due to the increase in the loan portfolio of customers. For all three periods under review, net loan debt has the largest share in the asset balance and amounts to 74.3%, 73.1% and 73.6%, respectively, in 2015, 2014 and 2013. The net loan debt of clients for the year, compared to 2014, increased by 6.2% and reached a value of about 16,870 billion rubles.

financial asset liability capital savings bank

Figure 1 - The structure of the bank's assets as of 01.01.2016

Figure 2 - The structure of the bank's liabilities as of 01.01.2016

Also, the growth of assets was affected by the increase in net investments in securities for sale, which occurred mainly due to the purchase of securities in the portfolio for the sale of the effect of currency revaluation, they increased by 32.7% over the year, they amounted to 1,744 billion rubles in 2013. those. 10.8% of all assets, in 2014 they increased by 1 billion rubles. and amounted to 1745 billion rubles, in 2015 there is a sharp increase to 2316 billion rubles. 10.2% of all assets in 2015. In 2013, the amount of funds amounted to 717 billion rubles. and during 2014 they increased by 73.1% and they amounted to 1,241 billion rubles, then they decreased to 733 billion rubles, mainly due to a decrease in demand for cash due to a decrease in the volatility of the ruble exchange rate.

The smallest indicator in the balance sheet asset is funds in credit institutions in 2015, they amounted to only 1.57% of all assets and 356 billion rubles, as in 2014.

Clients' funds account for the largest share in liabilities. The influx of customer funds also enabled the Bank to early repay a number of expensive borrowings in foreign currency from the external market. In 2014, customer funds amounted to 14,027 billion rubles (78.05% of all liabilities), and in 2015, 17,722 billion rubles (64.5% of all liabilities), which is 26.3% more than in 2014, in 2013 in the year, customer funds equal 68.4% of all liabilities and amounted to 11,128 billion rubles.

Despite geopolitical tensions persisting in 2015 and external markets remaining closed, the Bank significantly reduced its dependence on government funding (the amount of Bank of Russia funds on the Bank’s balance sheet decreased from RUB 3,516 billion to RUB 769 billion over the year) by raising additional funds clients.

Taking into account the ongoing sanctions and the unstable macroeconomic situation, in order to reduce liquidity risks, the Bank significantly increased the volume of liquidity reserves, mainly due to active work in 2015 to increase the collateral. In 2014 Provisions for other losses amounted to 37 billion rubles, and in 2015 Provisions for other losses increased by 2.7% and amounted to 38 billion rubles.

Sources of own funds in 2013 amounted to 1935 billion rubles. (11.9% of all liabilities), which is 2.4% less than in 2014 and 20.3% less than in 2015. Sources of own funds for 2014 and 2015 amounted to 1,982 billion rubles (9.11% of all liabilities) and 2,823 billion rubles (10.25% of all liabilities), respectively.

Table 3

Income statement

Name of indicator
Interest income
Interest expenses
Fee and commission income
Commission expenses
Net interest income
Net fee and commission income
Net income from operations with financial assets, securities and foreign currencies
Other operating income
Operating income before provisions
Change in reserves
Operating expenses
Profit before tax
Tax reimbursement/expense
Net profit

Net interest income for 2015 amounted to 866.7 billion rubles, which is 9.7% less than the previous year:

- interest income increased by 329.2 billion rubles. due to the growth of the portfolio of loans to legal entities and individuals;
- interest expenses increased by 430B2 billion rubles. due to the growth in the volume of customer funds (both individuals and legal entities), as well as due to an increase in the volume and cost of raising funds in the Bank of Russia;

Net fee and commission income amounted to 265.9 billion rubles, which is 17.8% higher than the figure for the previous year. In 2014, net fee and commission income amounted to 217.2 billion rubles, and in 2013 net fee and commission income was 55.3% less compared to 2015, its value amounted to 171.2 billion rubles.

- commission income increased by 23.5%. The main contribution to this growth was made by operations with bank cards and acquiring operations.
- in 2015, fee and commission expenses amounted to 31.8 billion rubles, which is 33.1% more than in the previous year and 79.7% more than in 2013.

Net income from currency revaluation and trading operations in the financial markets in 2015 amounted to 68.9 billion rubles, which is 26.9% less than in the previous year.

In general, the volume of operating income before the creation of reserves decreased by 7.4% and amounted to 1221.1 billion rubles.

Operating expenses increased by 3.5%, there was also an increase in reserves by 1.3%, which affected the decrease in profit before income tax.

Profit before income tax decreased by 28.5% compared to 2014 and amounted to 306.9 billion rubles. Since 2013, profit before income tax has been constantly declining, in 2013 profit before tax amounted to 502.8 billion rubles, and in 2014 429.2 billion rubles, which is 14.6% less than in 2013 and decreased by 73.6 billion rubles.

Net profit amounted to 218.4 billion rubles. against 311.2 billion rubles. in 2014. The main factors for the decrease in profit in 2015 were significant expenses on reserves, the exclusion from the financial result of the revaluation of foreign currency investments in subsidiaries. In 2013, net profit amounted to 377.6 billion rubles, which is 42.2% more than in 2015.

The values of the mandatory ratios, which were taken from the published financial statements of the Bank, are presented in Table 4.

Table 4

Name of indicator	Standard value	actual value
Basic capital adequacy ratio (N1.1)
Capital adequacy ratio (N1.2)
Capital adequacy ratio (N1.0)
Instant liquidity ratio (N2)
Current liquidity ratio (N3)
Long-term liquidity ratio (N4)
Maximum risk ratio per borrower or group of related borrowers (N6)
Maximum size of large credit risks (N7)
Ratio of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1)
Total risk ratio for bank insiders (N10.1)
Normative use of capital for the acquisition of shares of other legal entities (N12)

The adequacy ratio of basic and fixed capital (N1.1, N1.2) as of 01.10.2016 is 7.9%. This value fulfills the standard value condition.

The equity (capital) adequacy ratio (N1.0) is 11.9%. This value is quite close to the minimum (10%), which indicates the Bank's low ability to cover possible financial losses at its own expense.

The instant liquidity ratio (H2) limits the risk of a bank losing solvency within one day. AT this case it is equal to 116.4% and meets the standard value.

The current liquidity ratio (N3) regulates the risk of a bank losing solvency within the next 30 calendar days (to the date of calculation of the ratio). In this case, the current liquidity is 154.4%. This value corresponds to the normative value, which is a good indicator. That is, Sberbank PJSC is able to fulfill its obligations within the next 30 days.

The long-term liquidity ratio (N4) regulates the risk of a bank losing solvency as a result of placing funds in long-term assets (for example, mortgage loans). It amounted to 65.5%, which indicates a low risk of the bank losing solvency as a result of placing funds in long-term assets.

The maximum risk ratio per one borrower or a group of related borrowers (N6) regulates (limits) the bank's credit risk in relation to one borrower or a group of related borrowers and determines the maximum ratio of the total amount of the bank's credit claims to the borrower or a group of related borrowers to its own funds (capital) jar. It is equal to 19.99%, which is quite close to the standard value. This suggests that the Bank has a sufficiently large number of loans issued, which increases the risk.

The norm of the maximum amount of large credit risks (N7) regulates (limits) the total amount of large credit risks of the bank and determines the maximum ratio of the total amount of large credit risks and the amount of own funds (capital) of the bank. Its standard value is less than 800%. For 2015, this figure is 197.51%, which indicates a fairly good position of the Bank in this respect.

The ratio of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1), establishes a limit on the bank's credit risk in relation to the participants (shareholders) of the bank, is determined as the ratio of the amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) to the bank's own funds (capital). The standard value is less than 50%. In this case, this indicator is 0%.

The aggregate bank insider risk ratio (H10.1) imposes a cap on a bank's aggregate credit risk for all insiders, i.e. individuals who can influence the decision to issue a loan by the bank. It is defined as the ratio of the total amount of credit claims to insiders to the bank's own funds (capital). Its maximum value is 3%. Its actual value is 0.76%.

The ratio of using the bank's own funds (capital) for the acquisition of shares (stakes) of other legal entities (N12) shows the share of the bank's investments (in relation to the authorized capital) in the shares of enterprises, investment certificates of stock companies, bills and other not always liquid assets. Its maximum value is 25%. As of 01/01/2016, this figure is 10.59%.

Thus, over the period under review, OJSC Sberbank of Russia consistently complied with all the mandatory ratios established by the Central Bank of Russia, which confirms the Bank's stable position, the Bank's timely fulfillment of its debt and financial obligations to all counterparties, and the Bank's investment potential.

Having examined the balance sheet of Sberbank PJSC as of 01/01/2016, 01/01/2015 and 01/01/2014 and having analyzed and compared assets and liabilities of all three periods, having studied the Statement of financial results for 2013, 2014 and 2015, as well as Having considered the Information on the actual values of the bank's mandatory ratios for 2015 and comparing them with the standard values, in general, we can conclude: Sberbank of Russia is at the highest level - it has the highest category of reliability, while bypassing many other well-known and reliable banks in Russia.

In the period from 2013 to 2015, the bank increased the share of lending to individuals and legal entities, the increase in the item Customer funds in the liabilities side of the balance sheet indicates that the client base of Sberbank is growing every year.

Having considered the Information on the bank's mandatory ratios, it can be concluded that Sberbank throughout the study period consistently met all the mandatory ratios established by the Central Bank of Russia, which confirms the bank's stable and effective position, its investment potential and the timely fulfillment by the Bank of its financial and debt obligations to all counterparties.

SOCIAL AND HUMANITIES

UDC: 657.6

N. A. Dubinina, E. F. Agabalaeva ANALYSIS OF THE PERFORMANCE RESULTS OF PJSC SBERBANK OF RUSSIA

Public Joint Stock Company Sberbank of Russia is one of the leading credit organizations in the Russian Federation. This is achieved through skillful management decisions, an effective management system. Sberbank of Russia is a universal commercial bank that provides its customers with more than 100 different services: services related to raising funds for deposits, lending, settlement and cash services, dealing, intermediary, operations with stock values, etc. All the main financial indicators that characterize activities of Sberbank of Russia PJSC for the reporting year demonstrate steady growth. The analysis carried out allows us to conclude that the financial condition of Sberbank of Russia PJSC can be characterized as stable, and the positions occupied in the banking services market as leading.

Keywords: banks, banking, financial assets, financial stability, liquidity.

Introduction

In the conditions of the world financial crisis many companies are losing the leading positions they have occupied for a number of years. This is especially true for organizations in the financial sector, which are currently undergoing significant changes associated with the growth of overdue receivables, a decrease in the financial activity of the population, and the tightening of the policy of the Central Bank. In this regard, it is especially important to analyze the performance of those banks that are confidently “keeping afloat”. One of them is PJSC Sberbank of Russia.

The main goal of any commercial bank is to extract maximum profit, subject to the stability of the bank's position and the duration of its activities in the market in the future.

The final financial result of the activities of a commercial bank is profit or loss, its size reflects the result of all types of activities of a credit institution, all ongoing active and passive operations.

Both the banking organization itself and the state, bank owners, customers, counterparties, and bank employees are interested in increasing the amount of profit. In this regard, all interested parties conduct an analysis of the financial stability of the bank, which characterizes the ability of a credit institution to break even with the timely fulfillment of all its obligations.

Organizational characteristics of PJSC Sberbank of Russia

Public Joint Stock Company (PJSC) Sberbank of Russia is one of the leading banks not only in Russia, but also in Europe, demonstrating a steady growth in all financial indicators over the years.

According to the organizational structure, PJSC Sberbank of Russia is a joint-stock commercial bank, which was established by the Central Bank of Russia as an open joint-stock company and registered on June 20, 1991. Its capital was formed from the authorized capital, however, the bank has reserve, special and other funds .

Due to its leading positions in the banking system and based on the tasks it solves, Sberbank of Russia PJSC is the founder of a number of other companies. In addition, Sberbank of Russia PJSC is a member of the Moscow Interbank Currency Exchange, the Moscow and St. Petersburg Stock Exchanges, the International Institute of Savings Banks (Switzerland), a number of societies and associations.

Sberbank of Russia is a universal commercial bank that provides its customers with more than 100 various services related to raising funds for deposits, lending, cash management services, rendering dealing services, operations with stock values, intermediary, etc.

The organizational structure of Sberbank of Russia PJSC is shown in fig.

Organizational structure of Sberbank of Russia PJSC

Sberbank of Russia has a wide network of branches, which includes 16 territorial branches, more than 19 thousand offices throughout Russia, as well as subsidiary banks opened abroad.

Assessment of the main financial results of PJSC Sberbank of Russia

According to the annual report of PJSC Sberbank of Russia, net profit in 2016 amounted to 1,978,748 million rubles, which is 18.4% higher than in 2015, the increase in assets amounted to 19.8% - from 13,581,754 mln rub. in 2015 to RUB 16,275,097 mln. in 2016 (Table 1).

Table 1

Key financial results of PJSC Sberbank of Russia in 2015-2016

---^^^^ Year Financial indicator, mln rub. -- 2015 2016 Change, %

Assets 13,581,754 16,275,097 19.8

Profit before tax 474,709 502,789 5.9

Profit after tax 346,175 377,649 9.1

Capital 1,679,091 1,978,748 18.4

Analysis of the balance sheet indicators of PJSC Sberbank of Russia is presented in Table. 2. As of January 1, 2017, the amount of assets of PJSC Sberbank of Russia, according to the balance sheet, amounted to 16,275,097,230 thousand rubles. (an increase of 19.83% compared to 2015), the amount of liabilities - 14,339,896,094 thousand rubles. (increase compared to 2015 - 17.18%).

/vvm 1812-9498. Bulletin of ASTU. 2017. No. 2 (64)

table 2

Analysis of balance sheet indicators of Sberbank of Russia PJSC

No. Article Data for 2016, thousand rubles Data for 2015, thousand rubles Growth rate, % Absolute change, thousand rubles

1 Cash 717 319 916 725 051 773 -1.07 -7 731 857

2 Due to credit institutions with the Central Bank of the Russian Federation 408,802,599,381,207,927 7.24 27,594,672

2.1 Required reserves 112,129,198,122,373,578 -8.37 -10,244,380

3 Due from credit institutions 94,301,261 81,464,392 15.76 12,836,869

4 Financial assets at fair value through profit or loss 144,662,649 101,883,985 41.99 42,778,664

5 Net debt 11,978,006,945 9,772,750,284 22.57 2,205,256,661

6 Net investments in securities and other available-for-sale financial assets 1,744,228,260 1,541,630,850 13.14 202,597,410

6.1 Investments in subsidiaries and affiliates 310,871 192,281 233,360 10.54 29,637,832

7 Net investments in securities held to maturity 403,987,608,361,861,978 11.64 42,125,630

8 Fixed assets, intangible assets and inventories 468,069,623 438,028,479 6.86 30,041,144

9 Other assets 315,718,369,177,874,551 77.49 137,843,818

10 Total assets 16,275,097,230 13,581,754,219 19.83 2,693,343,011

II LIABILITIES

1 Loans, deposits and other funds of the Central Bank of the Russian Federation 1,967,035,549 1,367,973,939 43.79,599,061,610

2 Due to credit institutions 630,459 333,605 450,003 4.13 25,009,330

3 Due to customers other than credit institutions 11,128,035,158 9,462,176,277 17.61 1,665,858,881

4 Debt securities issued 404,518,757 331,891,304 21.88 72,627,453

5 Other liabilities 144,796,061,115,477,162 25.39 29,318,899

6 Provisions for possible losses on contingent liabilities of a credit nature, other possible losses and transactions with residents of offshore zones 31,000,692 21,323,838 45.38 9,676,854

7 Total liabilities 14,339,896,094 11,930,258,071 20.20 2,409,638,023

III SOURCES OF OWN MONEY

1 Funds of shareholders (participants) 67,760,844 67,760,844 0.00 0

2 Share premium 228,054,226 228,054,226 0.00 0

3 Reserve fund 3,527,429 3,527,429 0.00 0

4 Revaluation of securities -7,888,290 26,396,638 -129.88 -34,284,928

5 Revaluation of fixed assets 82,570,859 84,217,444 -1.96 -1,646,585

6 Retained earnings (uncovered losses) of previous years 1,183,526,718,895 365,048 32.18,288,161,670

7 Unused profit (loss) for the reporting period 377,649,350,346,174,519 9.09 31,474,831

8 Total sources of own funds 1,935,201,136 1,651 496,148 17.18 283,704,988

Despite the financial and economic crisis, PJSC Sberbank of Russia manages to maintain its leading positions in all areas of banking. In table. Table 3 shows the largest players in the retail lending market as of December 31, 2016.

Table 3

The largest players in the retail lending market as of December 31, 2016*

1 Sberbank of Russia 4,069.4 36.2

2 VTB24 1,514.3 13.5

3 Gazprombank 290.0 2.6

4 Rosselkhozbank 269.4 2.4

5 Bank of Moscow 261.6 2.3

6 Alfa-Bank 254.5 2.3

7 Home Credit 216.3 1.9

8 Rosbank 196.1 1.7

9 Raiffeisenbank 181.5 1.6

10 Russian Standard 175.5 1.6

* Compiled according to .

Public Joint Stock Company Sberbank of Russia published consolidated financial statements in accordance with International Financial Reporting Standards for 2016, containing the report of Ernst & Young LLC, which conducted an independent audit of the activities of PJSC Sberbank of Russia:

The value of the net profit of PJSC Sberbank of Russia was equal to 222.9 billion rubles. (10.36 rubles per ordinary share);

The bank's return on equity was 10.2%;

Capital adequacy increased throughout the year, the core capital adequacy ratio increased by 30 basis points (up to 8.9%), at the same time, the total capital adequacy ratio increased to 12.6%, with an increase of 50 basis points;

The bank's total loan portfolio before impairment increased by 7.0% in 2016, its main sectors being mortgage lending and commercial loans to legal entities, which grew by 12.5% and 14.9% respectively;

The ratio of the loan portfolio to customer funds amounted to 91.9% against the backdrop of an improvement in the liquidity situation.

An overview of the main financial indicators of Sberbank of Russia PJSC is given in Table. four.

Table 4

Overview of key financial performance indicators of PJSC Sberbank of Russia

Period Indicator " ----^^^ Q4 2016 Q3 2016 Q4 2015 Q4 16/ Q3 16, % Q4 16/ Q4 15 ., % 2016 2015 2016/ 2015, %

Net interest income, billion rubles 297.2 263.4 274.6 12.8 8.2 988.0 1019.7 (3.1)

Net fee and commission income, RUB bn 95.6 81.9 80.2 16.7 19.2 319.0 259.2 23.1

Other income, billion rubles 25.8 22.2 (-3.8) 16.2 - 122.8 21.8 463.3

Revenues, total, billion rubles 418.6 367.5 351.0 13.9 19.3 1429.8 1300.7 9.9

Net expense from creating a provision for impairment of debt financial assets, RUB bn (112.7) (130.1) (106.0) (13.4) 6.3 (475.2) (361.4) 31.5

Operating expenses, billion rubles (191.7) (145.4) (177.0) 31.8 8.3 (623.4) (565.1) 10.3

Net profit, billion rubles 72.6 65.1 49.0 11.5 48.2 222.9 290.3 (23.2)

Earnings per ordinary share, rub. 3.40 3.04 2.32 11.8 46.6 10.36 13.45 (23.0)

Total income for the period, billion rubles 133.7 80.0 6.5 67.1 206 365.8 214.6 70.5

Book value per share, rub. 110.0 103.9 93.6 5.9 17.5 110.0 93.6 17.5

Return on equity, % 12.6 11.8 9.7 0.8 2.9 10.2 14.8 (4.6)

Return on assets, % 1.1 1.1 0.9 - 0.2 0.9 1.4 (0.5)

Net interest margin, % 4.9 4.7 5.4 0.2 (0.5) 4.4 5.6 (1.2)

Cost of risk, % 2.3 2.8 2.4 (0.5) (0.1) 2.5 2.3 0.2

Cost-to-income ratio, % 45.8 39.6 50.4 6.2 (4.6) 43.6 43.4 0.2.

Net interest income of PJSC Sberbank of Russia for the 4th quarter of 2016 amounted to 297.2 billion rubles, an increase of 8.2% compared to the same period in 2015. Net fee and commission income for the 4th quarter of 2016 was 95.6 billion rubles, an increase of 19.2% compared to the fourth quarter of 2015. The share of income from settlement and cash services for customers (87.0 billion

ISSN 1812-9498. Bulletin of ASTU. 2017. M 2 (64)

rubles) in the structure of commission income in the fourth quarter was equal to 75.7%. Net expenses for the creation of a provision for impairment of the loan portfolio for the fourth quarter amounted to 112.7 billion rubles. against 106 billion rubles. in the same period in 2015, which corresponds to a credit risk of 230 bps versus 240 bps in 2015 .

Conclusion

Thus, the international ratings of PJSC Sberbank of Russia reflect the authority of the bank in the global banking community as one of the most dynamically and diversified developing Russian banks. This is achieved thanks to the effective management system of the bank, the adoption of competent management decisions, the use of innovative and traditional management tools. The analysis carried out allows us to conclude that the financial condition of Sberbank of Russia PJSC can be characterized as stable, and the position it occupies in the banking services market as a leader.

BIBLIOGRAPHY

1. Blank I. A. Management of financial resources. Moscow: Omega-L; Elga, 2011. 768 p.

2. Money, credit, banks: textbook. / ed. G. N. Beloglazova. Moscow: Yurayt, 2014. 620 p.

3. Rose P. S. Banking management: Per. from English. from 2nd ed. M.: "Delo Ltd", 2015. 768 p.

4. Sberbank of Russia. URL: http://www.sberbank.ru/ (date of access: 03/23/2017).

5. Frank Research Group. URL: http://www.frankrg.com/index.php?new_div_id=145 (accessed 03/24/2017).

6. Analytic Research Group (ARG). URL: www.analyticgroup.ru (date of access: 03/25/2017).

7. Central Bank of the Russian Federation. URL: www.cbr.ru/ (date of access: 03/25/2017).

8. RosBusinessConsulting (RBC). URL: http://www.rbc.ru/ (date of access: 03/24/2017).

The article was received by the editors on 04/07/2017

Dubinina Natalya Aleksandrovna - Russia, 414056, Astrakhan; Astrakhan State Technical University; cand. economy Sciences, Associate Professor; Professor of the Department of Production Management; [email protected]

Agabalaeva Esmira Fizulievna - Russia, 414056, Astrakhan; Astrakhan State Technical University; undergraduate of the department of production management; [email protected]

N. A. Dubinina, E. F. Agabalaeva ANALYSIS OF PERFORMANCE RESULTS OF PJSC "SBERBANK OF RUSSIA"

abstract. Public joint-stock company (PJSC) "Sberbank of Russia" is one of the leading credit institutions in the Russian Federation. This is achieved through wise managerial decisions and a successful management system. PJSC "Sberbank of Russia" is a universal commercial bank that provides its clients with more than 100 various services related to raising funds for deposits: lending, cash and settlement services, dealing, brokering, securities transactions, etc. All the main financial indicators that characterize the activities of PJSC "Sberbank of Russia" for the reporting year demonstrate a steady growth. The analysis allows to conclude that the financial state of PJSC "Sberbank of Russia" are stable, and the positions taken in the banking service market are the leading ones.

Key words: banks, banking, financial assets, financial stability, liquidity.

COUÈAnbHO-ryMAHÈTAPHblE HAÓKH

1. Blank I. A. Upravlenie finansovymi resursami. Moscow, Omega-L; El "ga Publ., 2011. 768 p.

2. Den "gi, kredit, banki: uchebnik. Pod redaktsiei G. N. Beloglazovoi. Moscow, Iurait Publ., 2014. 620 p.

3. Rouz P. S. Bankovskii management. Translated from English so 2nd ed. Moscow, "Delo Ltd" Publ., 2015. 768 p.

4. Sberbank Russia. Available at: http://www.sberbank.ru/ (accessed: 03/23/2017).

5. Frank Research Group. Available at: http://www.frankrg.com/index.php?new_div_id=145 (accessed: 03/24/2017).

6. Analytic Research Group (ARG). Available at: www.analyticgroup.ru (accessed: 03/25/2017).

7. Tsentral "nyi Bank Rossiiskoi Federatsii. Available at: www.cbr.ru/ (accessed: 03/25/2017).

8. RosBiznesKonsalting (RBK). Available at: http://www.rbc.ru/ (accessed: 03/24/2017).

Dubinina Nataliya Aleksandrovna - Russia, 414056, Astrakhan; Astrakhan State Technical University; Candidate of Economics, Assistant Professor; Professor of the Department of Industrial Management; [email protected]

Agabalaeva Esmira Fizulievna - Russia, 414056, Astrakhan; Astrakhan State Technical University; Postgraduate Student of the Department of Industrial Management; [email protected]

Table 2.1 Balance sheet of PJSC Sberbank of Russia.

Article name	as of January 1, 2016, thousand rubles	as of January 1, 2015, thousand rubles	Structure in % to balance currency	change(+, -)	Rate of increase (decrease),%

	Cash
	In the Central Bank of the Russian Federation
	Required reserves
	Funds in credit institutions
	Financial assets at fair value through profit or loss
	Net debt
	Net investments in securities and other available-for-sale financial assets
	Investments in subsidiaries and affiliates
	Net investment in securities held to maturity
	Current Income Tax Requirements
	Deferred tax asset

	other assets
	total assets

Continuation of table 2.1
II. LIABILITIES
	Loans, deposits and other funds of the Central Bank of the Russian Federation
	Funds of credit organizations
	Due to customers other than credit institutions
	Deposits of individuals
	Financial liabilities at fair value through profit or loss

	Liability for current income tax
	Deferred tax liability
	Other liabilities
	Provisions for possible losses on contingent liabilities of a credit nature, other possible losses and transactions with residents of offshore zones
	Total liabilities
III. SOURCES OF OWN MONEY
	Funds of shareholders (participants)
	Own shares (shares) redeemed from shareholders (participants)
	Share premium
	reserve fund
	Revaluation of securities less deferred tax liability (increased deferred tax asset)
	Revaluation of property, plant and equipment reduced by deferred tax liability
	Retained earnings (uncovered losses) of previous years
	Unused
	Total sources of own funds

Net loan debt has the largest share in the balance sheet assets and amounts to 73.04% and 73.6%, respectively, as of 01/01/2016 and 01/01/2015. In liabilities, the largest share belongs to the funds of clients that are not credit institutions (64.5% and 68.37%). Among the sources of own funds, retained earnings have the largest share, namely 6.85% and 7.27% of the balance sheet.

The main factors behind the growth of the Bank's assets in 2015 were loans to legal entities and individuals: the increase in assets by 71.5% was provided by net loans. The growth of balance sheet items was significantly affected by the positive revaluation of their currency component due to the depreciation of the ruble against major foreign currencies: the US dollar exchange rate increased by 71.9% in 2014, the euro exchange rate by 52.0%.

In December, the bank provided loans to corporate clients in the amount of 1.4 trillion. rub. In total, about 8 trillion were issued during the year. rub. - 8.8% more than a year earlier. The loan portfolio of corporate clients increased in December by 893 billion rubles. In general, over the year, the portfolio grew by 3.1 trillion. rub. or by 36.3% and amounted to 11.7 trillion. rub. The growth is due to both new loans issued and a positive revaluation of previously issued foreign currency loans, which arose due to changes in exchange rates.

In December, more than 200 billion rubles were issued to private clients, since the beginning of the year - 2 trillion rubles. loans, which is 10% higher than the volume of issuance for the previous year, excluding credit card turnover. The loan portfolio of private clients increased in December by 55 billion rubles. Over the year, the portfolio grew by 737 billion rubles. or by 22.1% and amounted to almost 4.1 trillion. rub. About half of the bank's retail portfolio is home loans.

The share of overdue debt in the loan portfolio as of January 1, 2015 amounted to 2.0%, having decreased by 0.2 p.p. over the year.

The volume of investments in securities for the year decreased by 35.9 billion rubles. or 1.8%. Their balance as of January 1, 2016 amounted to 1.9 trillion. rub.

Funds of legal entities in December increased by 966 billion rubles. due to seasonal growth of time deposits and revaluation of previously attracted foreign currency funds. The increase for the year as a whole amounted to 1,949 billion rubles. or 62.5%. The balance of funds of legal entities as of January 1, 2016 amounted to 5.1 trillion. rub.

In December, individuals' funds increased by 192 billion rubles. both due to the inflow of funds and due to the revaluation of foreign currency deposits. During the year, the funds of individuals increased by 473 billion rubles. or by 5.9% and as of January 1, 2016 amounted to 8.5 trillion. rub.

Table 2.2 Indicators of the statement of financial results of OJSC Sberbank of Russia

Indicators (million rubles)			Change
Net interest income
Net fee and commission income
Net income from currency revaluation and trading operations
Operating income before total reserves
Expense/income on total reserves
Operating expenses
Profit before income tax
Net profit

Net interest income amounted to 853.7 billion rubles, which is 18.3% more than the previous year:

- interest income increased by 313.4 billion rubles. due to the growth of the portfolio of loans to legal entities and individuals;
- interest expenses increased by 181.2 billion rubles. due to the growth in the volume of customer funds (both individuals and legal entities), as well as due to an increase in the volume and cost of raising funds in the Bank of Russia; the cost of the funds of the Federal Treasury and the Bank of Russia increased especially strongly in December after raising the key rate to 17%.

Net fee and commission income amounted to 276.9 billion rubles, which is 21.4% higher than the figure for the previous year. Fee and commission income not related to lending increased by 24.0%. The main contribution to this growth was made by operations with bank cards and acquiring operations - their growth for the year amounted to 32.2% or 30.7 billion rubles, while in December 14.9 billion rubles were earned. Such growth in December is due to a significant increase in the volume of transactions by cardholders. In 2016, commission income from the issuance of bank guarantees, the implementation of trade finance and documentary business transactions, and the sale of insurance and investment products also grew at a faster pace.

Net income from currency revaluation and trading operations in the financial markets in 2016 amounted to 81.2 billion rubles, which is 3.7 times higher than in the previous year. The main impact was the creation of reserves for foreign currency loans due to the positive revaluation of these loans as a result of the devaluation of the ruble at the end of 2016 without deteriorating the quality of the loans themselves (only for the 4th quarter of 2016 - about 48 billion rubles). At the same time, according to the rules for regulating the open foreign exchange position of banks, reserves for depreciation of foreign currency loans were included in foreign exchange claims and liabilities for managing the foreign exchange position. The revaluation of these claims and liabilities, as well as all foreign exchange assets and liabilities denominated in foreign currency, was reflected in the item of income from trading operations. Thus, the creation of reserves for foreign currency loans technically affected the growth of income from trading operations.

In general, operating income before total reserves increased by 26.8% and exceeded 1.25 trillion. rub.

Operating expenses increased by 9.6%. The cost-to-income ratio decreased by 5.8 p.p. up to 36.6% due to the cost optimization program implemented by Sberbank. The growth rate of operating income before total reserves (26.8%) significantly exceeds the growth of operating expenses (9.6%).

Expenses on total reserves for 2016 amounted to 397.7 billion rubles. against 104.8 billion rubles. a year earlier. More than 45% of the increase in reserves came in the 4th quarter. During this quarter, the volume of reserves was affected by a sharp depreciation of the ruble against major currencies, which technically entailed the additional creation of reserves for foreign currency loans without deteriorating their quality. In addition, a provision was added for a number of large Ukrainian borrowers due to the deteriorating situation in Ukraine.

In general, the bank continues to form provisions for possible losses in accordance with the requirements of the Bank of Russia, adhering to a conservative approach to covering existing credit risks. The reserves created on the balance sheet exceed the overdue debt by 2.6 times (2.2 times as of January 1, 2016).

Profit before income tax decreased by 14.3% compared to 2013 and amounted to 400.1 billion rubles. Net profit amounted to 305.7 billion rubles. against 377.7 billion rubles. in 2015. The main factors for the decrease in profit in 2014 were significant expenses on reserves, the exclusion from the financial result of the revaluation of foreign currency investments in subsidiaries, as well as the recognition of a deferred tax liability from May 2016 due to changes in accounting rules.

The values of mandatory ratios, which were taken from the published financial statements of the Bank, are presented in Table 2.3

Table 2.3 Information on mandatory ratios (as of January 1, 2016 in percent).

Name of indicator	Standard value	actual value
	Basic capital adequacy ratio (N1.1)
	Capital adequacy ratio (N1.2)	>5.5 (01.01.15- 6)
	Capital adequacy ratio (N1.0)
	Instant liquidity ratio (N2)
	Current liquidity ratio (N3)
	Long-term liquidity ratio (N4)
	Maximum risk limit per borrower or group of related borrowers (N6)

	Maximum size of large credit risks (N7)
	The norm of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1)
	Total risk ratio for bank insiders (N10.1)
	Normative use of capital for the acquisition of shares of other legal entities (N12)

The basic and fixed capital adequacy ratio (N1.1, N1.2) as of October 1, 2016 is 8.2%. This value corresponds to the standard.

The equity (capital) adequacy ratio (N1) is 11.6%. This value is quite close to the minimum (10%), which indicates the Bank's low ability to cover possible financial losses at its own expense.

The instant liquidity ratio (H2) limits the risk of a bank losing solvency within one day. In this case, it is equal to 74.3% and corresponds to the standard value.

The current liquidity ratio (N3) limits the risk of a bank losing solvency within the next 30 days (by the date of the ratio calculation). In this case, the current liquidity is 66.4%. This value corresponds to the standard, which is a good indicator. That is, Sberbank of Russia OJSC is able to fulfill its obligations within the next 30 days.

The long-term liquidity ratio (N4) limits the risk of insolvency of a credit institution as a result of placing funds in long-term assets (for example, mortgage loans). It is 111.2%, which indicates a low risk of the Bank's insolvency as a result of placing funds in long-term assets.

The maximum risk ratio per one borrower or a group of related borrowers (N6) regulates (limits) the bank's credit risk in relation to one borrower or a group of related borrowers and determines the maximum ratio of the total amount of the bank's credit claims to the borrower or a group of related borrowers to its own funds (capital) jar. This standard should not exceed 25%. In this case, it is equal to 19.2%, which is a fairly close value to the maximum. This suggests that the Bank has a sufficiently large number of loans issued, which increases the risk.

The norm of the maximum amount of large credit risks (N7) regulates (limits) the total amount of large credit risks of the bank and determines the maximum ratio of the total amount of large credit risks and the amount of own funds (capital) of the bank. Its maximum value is 800%. In this case, this figure is 207.3%, which indicates a fairly good position of the Bank in this respect.

The ratio of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) (N9.1), establishes a limit on the bank's credit risk in relation to the participants (shareholders) of the bank, is determined as the ratio of the amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) to the bank's own funds (capital). The maximum value is 50%. In this case, this indicator is 0%.

Analysis of bank assets table 2.4

Name of articles	Change	Growth rate, %
Cash
Funds in the Central Bank
Required reserves in the Central Bank of the Russian Federation


Net debt


Fixed assets, intangible assets and inventories

Other assets
Total assets

Conclusion: The value of the bank's assets for the reporting year increased by 1460281579 thousand rubles. and amounted to 4937814349 thousand rubles, the growth rate was 142%. This deserves a positive assessment, because. speaks about the stable, developing activity of the bank.

In the reporting year, the loan debt increased by 1348549070 thousand rubles. amounted to 3988641545 thousand rubles. The growth rate was 106%. On the one hand, this indicates the bank's business activity, an increase in the lending market share. But on the other hand, the risks of non-return increase.

In the reporting year, the value of investments in securities increased by 132,973,814 thousand rubles. and amounted to 457863660 thousand rubles. The growth rate is 99%. This deserves a positive assessment, because. indicates that the bank is beginning to actively invest resources in securities transactions, which may indicate that it is very attentive to the development of the securities market in Russia and gradually begins to offer these services to its customers, and also consolidates its position in the market valuable papers.

The amount of funds of credit organizations of the Central Bank of the Russian Federation by the end of the reporting year decreased by 5905121 thousand rubles. and amounted to 81793071 million rubles. These resources are among the most liquid funds. However, the growth rate is below the overall asset growth rate. This suggests that the main sources of asset growth are the least liquid funds.

Decision progress: Cash (changes) = 01/01/2016-01/01/2015.

Growth rate = 01.01.2016: 01.01.2015*100%

Structure of the Bank's assets, % table 2.5

Name of articles	Change	Growth rate
Cash
Funds in the Central Bank
Required reserves at the CBRF
Amounts due from credit institutions net of provisions
Net investment in trading securities
Net debt
Net investment in investment securities held to maturity
Net investment in securities available-for-sale
Fixed assets, intangible assets and inventories	Continuation of table 2.5

Interest requirements
Other assets
Total assets

Conclusion: The largest share in the bank's assets has a net loan debt (80.7%). In the reporting year, the value increased by 14660 million rubles. amounted to 94955 million rubles. The growth rate was 106%. On the one hand, this indicates the bank's business activity, an increase in the lending market share. But on the other hand, the risks of non-return increase.

The second largest share in the structure of assets is investments in securities (9.27%). In the reporting year, their value increased by 132973814 thousand rubles. and amounted to 457863660 thousand rubles. The growth rate is 99%. This deserves a positive assessment, because. indicates that the bank is beginning to actively invest resources in securities transactions, which may indicate that it is very attentive to the development of the securities market in Russia and gradually begins to offer these services to its customers, and also consolidates its position in the market valuable papers.

The amount of funds of credit institutions of the Central Bank of the Russian Federation (1.65%) by the end of the reporting year decreased by 5905121 thousand rubles. and amounted to 81793071 million rubles. The growth rate was 66%. The share in total assets for the reporting year decreased by 0.85 percentage points. These resources are among the most liquid funds. However, the growth rate is below the overall asset growth rate. This suggests that the main sources of asset growth are the least liquid funds.

Dynamics of bank liabilities, thousand rubles Table 2.6

Name of articles	Change	Growth rate, %

Funds of credit organizations

including deposits of individuals
Issued debt

Other liabilities


Shareholder funds




Share premium
Revaluation of fixed assets


Profit (loss) for the reporting period

Total liabilities (19+33)

Conclusion: The total amount of liabilities for the reporting year increased by 1460218579 thousand rubles. rub. and amounted to 4937814349 thousand rubles. The growth rate was 141%. This deserves a positive assessment, because. speaks of the growth of the bank's potential.

Structure of bank liabilities, % table 2.8

Name of articles	Change	Growth rate
Loans received from the Central Bank of the Russian Federation
Funds of credit organizations
Due to customers (non-credit institutions)
including deposits of individuals
Issued debt
Interest obligation
Other liabilities
Provisions for possible losses on futures transactions …
Total liabilities (12+13+14+15+16+17+18)
Shareholder funds
Registered ordinary shares
Registered preferred shares
Unregistered authorized capital of non-joint stock credit organizations
Own shares repurchased from shareholders
Share premium
Revaluation of fixed assets
Costs and risks affecting equity
Funds and profits of previous years, left at the disposal of the credit institution
Profit (loss) for the reporting period
Total sources of own funds (20-21+22+23-24+25+26)
Total liabilities (19+33)

Conclusion: Liabilities have the largest share in the structure of liabilities. Their share for the reporting period decreased by -0.4 percentage points and amounted to 98.9%

Bank capital adequacy analysis Table 2.9

Name of articles, formula	Meaning
Numerator	Denominator
Capital adequacy ratio (N 1)
The share of capital in the balance sheet
	Balance currency
Capital adequacy for deposits
	Client funds
Loan coverage ratio
	Loan debt
Capital protection ratio (or immobilization ratio)
Protected Capital
Capital adequacy ratio in terms of redundancy
excess capital

Conclusion: During the reporting year, the indicator of the norm H1 decreased by 0.2% and amounted to 10.6%. On the one hand, this indicates a deterioration in capital adequacy. On the other hand, the standard value of this indicator is 10.0, the actual value in the reporting year is 10.6%, therefore, the bank has a small margin for reducing the value of the standard without worsening the state of capital adequacy.

Dynamics of bank liabilities, thousand rubles table 2.10

Name of articles	Change	Growth rate, %
Loans received from the Central Bank of the Russian Federation (item 12 of the balance sheet liability)
Funds of credit institutions (Article 13)
Funds of clients (legal entities) (Article 14 minus Article 14.1)
Deposits of individuals (Article 14.1)
Debt Issued (Item 16)
Other liabilities (sum of items (17, 18)
Total liabilities

Conclusion: The share of funds of credit institutions for the reporting period decreased by 0.2 percentage points and amounted to 4.3%. The amount of funds of credit institutions for the reporting period decreased by 39342015 thousand rubles. and amounted to 183703088 thousand rubles. This suggests that the bank operates in the interbank lending market. This, on the one hand, indicates the insufficiency of own capital, on the other hand, by attracting less funds from credit institutions, the bank is trying to reduce the use of expensive resources.

Structure of bank liabilities, % table 2.11

Conclusion: The largest share in the structure of liabilities belongs to the amount of funds of clients that are not credit institutions. Their share for the reporting year increased by 2.7 percentage points and amounted to 110%. This deserves a positive assessment and speaks of the stable and developing work of the bank.

Estimation of the cost of the resource base (liabilities) in the period 01.01.2015 table 2.12

Article of obligations	Value, thousand rubles	Specific weight, %	Interest expenses	Value, thousand rubles	Specific weight, %	Resource cost, %

Loans received from the Central Bank of the Russian Federation
Funds of credit organizations
Client funds			By means of clients
Issued debt
			For other obligations
Total liabilities			Total interest expense

Conclusion: Issued liabilities reflect funds raised through the placement of own securities (except for shares issued to form authorized capital). The share of issued obligations for the reporting year increased by 1.33 percentage points and amounted to 2.96%. The volume of issued liabilities decreased by 323434 thousand rubles. and amounted to 3161090 thousand rubles. The growth rate was 0.02%. This suggests that the bank reduced its presence in the securities market in the reporting year.

Estimation of the cost of the resource base (liabilities) in the period 01.01.2016 table 2.13

Article of obligations	Value, thousand rubles	Specific weight, %	Interest expenses	Value, thousand rubles	Specific weight, %	Resource cost, %

Loans received from the Central Bank of the Russian Federation (Article 12)			Funds received from the Central Bank
Funds of credit institutions (Article 13)			By funds raised from credit institutions
Customer funds (art. 14)			By means of clients
Issued debt obligations (item 15)			For issued debt
Other liabilities (sum of items 16, 17, 18)			For other obligations
Total liabilities			Total interest expense

Conclusion: Analyzing the structure of attracted funds, we can conclude that it is formed by 79.94% at the expense of clients' funds. These resources may include funds on settlement accounts and deposits of legal entities. Funds on clients' settlement accounts are the most attractive for the bank, because they are the least expensive (for the most part they are interest-free). Attracting funds to deposits increases the bank's liquidity. The growth of deposits (more expensive resources) indicates that the bank spent special program for work with the population.

Table 9

Estimated cost of the resource base (liabilities), % table 2.14

Conclusion: The largest share in the structure of liabilities belongs to the amount of funds received from credit institutions. Their share for the reporting year increased by 103.45 percentage points and amounted to 105.4%. This deserves a positive assessment and speaks of the stable and developing work of the bank.

Dynamics of assets grouped by economic content, thousand rubles Table 2.15

Conclusion: During the reporting year, the value of the bank's operating assets increased by 13936330052 thousand rubles. and amounted to 4517771591 thousand rubles. The growth rate was 145%. This deserves a positive assessment and speaks of the stable and developing work of the bank. At the same time, the amount of immobilized assets increased by 1,594,261 thousand rubles. and amounted to 163415207 thousand rubles. The growth rate was 111%. This deserves a positive assessment and speaks of the dynamic development of the bank's core business.

Table 2.16

Structure of assets grouped by economic content, %

Conclusion: The value of the bank's operating assets increased from 90 to 91 percent of the table. The growth rate was 145%. This deserves a positive assessment and speaks of the stable and developing work of the bank.

Risk analysis of active bank operations, % Table 2.17

	Name of articles, formula	Meaning	Change
Numerator	Denominator
	Share of working assets
Working assets
	Ratio of immobilization and working assets
Immobilization	Working assets
	Asset coverage ratio at the expense of reserves formed to cover possible losses on them
	The amount of assets and the provision for losses on active operations
	Coverage ratio of operating assets at the expense of reserves formed to cover possible losses on them
The amount of reserves to cover losses on active operations	The amount of operating assets and the provision for losses on active operations
	Loan debt coverage ratio at the expense of reserves formed to cover possible losses on it
The amount of reserves to cover losses on credit operations	The amount of the loan and equivalent debt and reserves to cover losses on credit operations
	Asset collapse ratio

Conclusion: During the reporting year, the amount of the reserve decreased by 1% of the table value. The change in the provision amounted to 4331 million rubles. The data for the reporting year amounted to 91%. The reserve for possible losses on accrued interest income includes reserves for loans, promissory notes and promissory notes. Therefore, the reason for the growth of reserves may be an increase in the reserve in one of the directions.

Estimated profitability of the bank's operating assets in the period 01.01.15 table 2.17

The amount of funds in credit institutions less reserves for the reporting year amounted to 22859059 thousand rubles. This deserves a positive assessment, because. speaks about the effective and developing work of the bank.

Estimated profitability of the bank's operating assets in the period 01.01.16 table 2.18

Article of working assets	Value, thousand rubles	Specific weight, %	Interest income	Value, thousand rubles	Specific weight, %	Profitability of working assets, %, %

Amounts due from credit institutions, net of reserves (item 3)			For loans granted to credit institutions
Net investments in securities (items 4, 6, 7)			From investing in securities
Net debt (item 5)			From loans to customers
Total working assets			Total interest income

Conclusion: The amount of funds in credit institutions less reserves for the reporting year amounted to 16631126 thousand rubles. This deserves a positive assessment, because. speaks about the effective and developing work of the bank.

Table 2.19 Estimation of profitability of the bank's working assets, %

Conclusion: Taking into account the data of tables 13 and 13.1, the amount of income for the reporting year increased by 18.49% compared to the previous year, and amounted to 57.98%. This deserves a positive assessment, because. speaks about the effective and developing work of the bank.

Table 2.20 Ratio analysis of profitability of bank assets, %

	Name of articles, formula	Meaning	Change
Numerator	Denominator
	lead factor
Growth rate of loan assets	Growth rate of total assets
	Total return on assets

	Interest yield on assets
Interest income
	Ratio of net interest income to assets
Net interest income
	Profitability of assets (based on profit before tax)

	Profitability of assets (based on net income)
Net profit
	Total return on working assets
	Working assets
	Percentage yield of working assets
Interest income	Working assets
	Ratio of net interest income to working assets
Net interest income	Working assets
	Profitability of operating assets (in terms of profit before tax)
	Profitability of operating assets (based on net profit)

Conclusion: The total return on assets for the reporting period increased by 4.86% of the table value and amounted to 25.16%. This deserves a positive assessment, because. speaks about the growth of the bank's potential

Ratio analysis of the use of the bank's resource base, % table 2.21

Conclusion: The value of working assets and liabilities in the reporting year amounted to 92.3% of the table. The growth rate was 4.8%. These changes deserve a positive assessment and speak of the stable and developing activities of the bank, the growth of the bank's potential.

Analysis of the economic standards of the bank, % Table 2.22

Index	Change	standard
Bank's own funds (capital) adequacy ratio - H1
Instant liquidity ratio of the bank - H2
Bank's current liquidity ratio - N3
Bank's long-term liquidity ratio - N4
Maximum risk per borrower or group of related borrowers - H6
The maximum amount of large credit risks - H7

The ratio of the total amount of credits and loans issued to shareholders (members) of the bank, and capital - N9.1
Normative use of own funds (capital) of the bank for the acquisition of shares (shares) of other legal entities - N12 (max 25%)

Conclusion: During the reporting year, the indicator of the instant liquidity ratio increased by 5.8% and amounted to 55.9%. This deserves a positive assessment, because. indicates that the bank has the necessary combination of liquid assets and funds on demand. The current value of the H2 norm is more than 2 times higher than the normative one, therefore, the bank can, if necessary, reduce the number of quick-liquid assets without changing the liquidity of assets.

Alternative analysis of liquidity and solvency of the bank,% of table 2.23

	Name of articles, formula	Meaning	Change
Numerator	Denominator
	Share of liquid assets
Liquid assets
	Ratio of liquid assets to working assets
Liquid assets	Working assets
	Liquidity ratio (liability coverage)
Liquid assets	Commitments
	Liquidity ratio (coverage of customer funds)
Liquid assets	Client funds
	Liquidity ratio (covering deposits of citizens)
Liquid assets	Citizens' deposits

Conclusion: During the reporting year, the value of the mandatory liquidity ratio (liability coverage) decreased by 0.8% and amounted to 5.43%. The normative value of this indicator is 50%. This means that the bank has a margin for reducing liquidity reserves without harming the liquidity of the balance sheet.

Analysis of the dynamics of income and expenses of the bank, thousand rubles. table 2.23

Name of articles	Change	Growth rate, %
Interest income
Interest expenses
Fee and commission income
Commission expenses
Administrative and management expenses

Conclusion: Interest income has the largest share in the income structure. Their share for the reporting year increased by 130.5%. point and amounted to 1094015347 thousand rubles. On the one hand, this may indicate that the bank is diversifying its activities. On the other hand, a decrease in the share of the main activity may indicate a decrease in the stability of the bank's work. The amount of interest income for the reporting year increased by 256127531 rubles. This deserves a positive assessment, because. indicates the profitability of the main activity.

Analysis of bank profit and absolute margin table 2.24

Conclusion: During the reporting year, the amount of profit increased by 1376.6 million rubles. and amounted to 3449.1 million rubles. The growth rate was 166.42%. This deserves a positive assessment, because. profit creates conditions for the development of the bank. The value of net profit for the reporting year increased by 867.5 million rubles. and amounted to 2456.1 million rubles. The growth rate was 154.61%. The amount of net profit differs from the amount of profit by the amount of tax paid and deductions to the reserve fund.

Analysis of Spread and interest margin ratio, % Table 2.25

Conclusion: The rate of return on operating assets for the reporting year amounted to 26.6% of the values in the table, which indicates a positive trend in the development of the bank and a promising future.

Analysis of profitability indicators of banking activity % table 2.26

Conclusion: Return on assets for the reporting year amounted to 3.2% of the table. Growth rate 1.5%. This deserves a positive assessment, because. indicates the profitability of the main activity.

Article of working assets

Value, thousand rubles

Specific weight, %

Interest income

Value, thousand rubles

Specific weight, %

Profitability of working assets

From investing in securities

From loans to customers

Total working assets

Total interest income