As reported by Sberbank's Press Service, the auditor's report on the Bank's accounts as of 31st December 2001 prepared in compliance with International Accounting Standards for financial reports (IAS), was signed on 14th June 2002. 
Sberbank's IAS book profit in 2001 was RUB 38.1bn, which by far exceeds the corresponding RAS figure (RUB 21.7bn) and is 93% above Sberbank's book profit for 2000 (RUB 19.7bn). The Bank's net profit is RUB 27.4bn, exceeding the corresponding RAS figure of RUB 17.7bn by 50% and the IAS figure for 2000 (RUB 13.3bn) by more than 100%. Net assets by IAS went up to RUB 771.6bn. Capital by IAS reached RUB 81.4bn, displaying a 1.6 times growth against 2000 (RUB 49.4bn). 
Such impressive financial performance figures by IAS that have been traditionally regarded as more stringent than RAS are due to the auditor's recognition of quality growth of the Bank's loan portfolio. Increasing its loan portfolio from RUB 287.9bn to RUB 379.5bn over 2001 (1.3 times, without bank-to-bank loans and less provisions), the Bank cut its loan provisions to comply with the IAS requirements. The Bank recorded a rapid growth of retail loan outstandings, bringing them up to RUB 30.3bn over the year. Long-term loans to the real sector grew 1.6 times equalling RUB 59bn.

Sberbank's Press Service