Consolidated Statement of Profit or Loss

Year ended 31 December
in billions of Russian Roubles 2014 2013
Interest income 1,837.9 1,478.6
Interest expense (785.1) (587.8)
Deposit insurance expenses (33.1) (28.6)
Net interest income 1,019.7 862.2
Net provision charge for impairment of debt financial assets (361.4) (134.9)
Net interest income after provision charge for impairment of debt financial assets 658.3 727.3
Fee and commission income 329.5 253.7
Fee and commission expense (47.2) (32.4)
Net losses arising from trading securities (7.1) (3.2)
Net losses arising from securities designated as at fair value through profit or loss (8.4) (1.1)
Net gains arising from investment securities available-for-sale 6.2 11.7
Impairment of investment securities available-for-sale (0.8) (5.2)
Net gains arising from trading in foreign currencies, operations with foreign currency derivatives and foreign exchange translation 8.1 2.7
Net (losses) / gains arising from operations with precious metals, precious metals derivatives and precious metals accounts translation (18.8) 1.2
Net gains arising from operations with other derivatives 27.0 8.2
Impairment of fixed assets (0.3)
Goodwill impairment (1.2) (8.7)
Net charge for other provisions (18.4) (4.5)
Revenue of non-banking business activities 27.5 30.2
Cost of sales and other expenses of non-banking business activities (31.2) (29.4)
Net income from insurance and pension fund operations 7.6 0.5
Other operating income 8.5 8.9
Operating income 939.3 959.9
Operating expenses (565.1) (504.2)
Profit before tax 374.2 455.7
Income tax expense (83.9) (93.7)
Profit for the year 290.3 362.0
Attributable to:
— shareholders of the bank 292.2 363.8
— non-controlling interest (1.9) (1.8)
Earnings per ordinary share attributable to the shareholders of the bank, basic and diluted 13.45 16.78
(expressed in RR per share)

Approved for issue and signed on behalf of the Management Board on 25 March 2015

These summary consolidated financial statements do not contain all the disclosures required by International Financial Reporting Standards (IFRS), namely summary of principal accounting policies and other explanatory information as presented in the audited consolidated financial statements of Sberbank and its subsidiaries (together “the Group”) prepared in accordance with IFRS for the year ended 31 December 2014. For a better understanding of the Group’s financial position, its financial performance and its cash flows, these summary consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Group which these summary consolidated financial statements were derived from.

The copies of the audited consolidated financial statements can be obtained from Sberbank of Russia.

Consolidated financial statements of Sberbank of Russia with independent auditor’s report for the year ended 31 December 2013 is publicly available at the bank’s website: