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Sberbank's investment portfolio spirals up
22.07.2010
Sberbank's investment portfolio nearly doubled in 2010, reaching RUB 1.7 trillion (approx. USD 55.9bn), RBC Daily wrote today citing the bank's Vice President Andrei Golikov. Almost all the securities Sberbank has invested in are on the Bank of Russia's Lombard List, which, according to Sberbank, will help it in case of possible problems on the market.
Russia's largest bank has left its competitors far behind when it comes to the rate of expansion of its securities portfolio. Last year, the share of securities in the bank's assets stood at 8.4 percent, and this year it has already reached 23.2 percent - the highest showing on the market, Golikov said, since most banks tend to invest roughly 15 percent of its assets on the stock market. He also admitted that the portfolio could even add another 5-10 percent by the year-end. As he specified, it depends on several different factors: the growth of lending, interest rates and the yield on bonds. If the demand for loans remains low, the bank will have to boost its investment in securities.
www.rbcnews.com
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