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Financials

Sberbank CFO sees 2020 net interest margin at 5.1-5.3%

MOSCOW, Dec 11 (Reuters) - Russia’s largest lender Sberbank is on track to report a 5.1-5.3% net interest margin in 2020, Alexander Morozov, chief financial officer of the state-run bank, said on Wednesday.

In 2019, Sberbank’s net interest margin, which measures the difference between its interest income and interest paid, was previously seen at up to 5.5%.

Morozov also said that Sberbank’s retail lending is expected to grow by 12-14% next year, in line with the broader market. (Reporting by Tatiana Voronova Writing by Andrey Ostroukh Editing by Louise Heavens)

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