Sberbank's credit portfolio up

As of October 1, 2004, the total volume of Sberbank's credit portfolio amounted to RUR1.1 trillion (about USD38.37bn), the bank's CEO Andrey Kazmin reported at a press conference today. According to him, the credit portfolio of the bank surged 70 percent in the first nine months of this year in comparison to the same period in 2003.

Some RUR952bn (about USD33.2bn) were allocated in credits to legal entities in the reported period. Crediting small and medium-sized businesses accounted for 55 percent of Sberbank's credit agreements. 15 percent of the credits were allocated for long-term investment projects.

Of RUR168bn (about USD5.86bn) that the bank allocated in long-term credits, 38 percent were credits for industry, 27 percent for telecommunications, 15 percent for transport, 7 percent for agriculture, and 13 percent for other sectors of the economy. The total volume of credits given to individuals in rubles and foreign currency amounted to RUR229.5bn (about USD8bn) as of October , 2004, in comparison to RUR96.8 (about USD3.38bn) as of October , 2003.