14 November 15:11
PJSC Sovcombank (ticker: SVCB) published consolidated financial statements under IFRS for the 3rd quarter and 9 months of 2025.
The group's key indicators show improvement: expansion of the net interest margin, growth in commission income and income from non-banking business, stabilization of risks in retail, growth in operating efficiency.
For the group as a whole:
- Revenue: 703 billion rubles. (+38% y/y). Continued to grow.
- Net profit: 35 billion rubles. (-38% y/y, but a sharp increase of 3.6 times compared to the 2nd quarter).
- Loan portfolio: increased to RUB 2.8 trillion. (+16% y/y).
- Financial Stability: Funding costs decreased and net interest margin increased compared to the previous quarter.
By business segment:
Retail business:
- Revenue: RUB 351 billion (+46% y/y). Growth was driven by mortgages, car loans and insurance.
- Portfolio quality: The cost of risk has decreased after the level of delinquencies has stabilized.
Corporate business:
- Revenue: RUB 288 billion. (+62% y/y). The main drivers are lending to large companies and commissions on guarantees.
- Loan portfolio: significant growth to RUB 1.6 trillion. (+23% y/y).
Non-banking business (insurance, factoring, payment services): showed record dynamics with revenue growth by 1.5 times per year.
Insurance: premium collection increased by 12%.
Payment services: transactions grew by 51% thanks to the ecosystem.
“We are returning to the growth trajectory. Margins and profits have begun to grow, and the cost of risk is stabilizing. Growth in the insurance and payment business is significant. Separately, I would like to note the growth of the business of electronic trading platforms. Despite the already significant market share, it continues to grow effectively,” said Dmitry Gusev, Chairman of the Board of Sovcombank.
