IFRS: the events in Ukraine affect the financial position of Sberbank
Sberbank warns about the negative impact of political events in Ukraine on its financial results and financial position, but while difficult to fully assess this effect follows from the statements of the largest Russian Bank in accordance with IFRS.
the document emphasizes that Sberbank's management monitors the development of the current situation and takes appropriate action." The current situation in Ukraine and its subsequent negative development can have a negative impact on the financial result and financial position of the group, and the effect of this impact At this time is hard to find " - emphasizes the Bank.
as of June 30, 2014 Sberbank assesses the level of risk the group's investments in the Ukrainian assets of approximately 0, 6% of the total consolidated assets of the group, which amounted in the first half of 2014, 19, 39 trillion rubles. As of the end of the previous year, the largest Russian Bank was identified risks at the level presumably, 0, 8% of assets.
in the calculation of this indicator Sberbank includes net assets of the Ukrainian group branches, as well as investments in the financial and debt instruments of the Ukrainian government and corporate buyers of Ukraine.
The head of Sberbank German Gref stated several times that the Bank has no plans to leave the Ukrainian market, despite the difficult political situation.