Net profit of Sberbank in the first quarter fell by almost two times, to 120.5 billion. the Rapid spread of the epidemic of the coronavirus and the ensuing uncertainty forced the Bank to dramatically increase contributions to reserves. The analysts expect that more difficult for the Bank may be the second quarter.Net profit of Sberbank group in the first quarter of 2020 decreased by 47% and has made 120,5 billion rubles this was announced by the Bank in the IFRS financial statements. The net interest income compared with last year increased by 10%, to 371,9 billion roubles, net fee and Commission income by almost 23%, to 126,4 billion rubles As noted in the commentary to statements by the Deputy Chairman of the Board Alexander Morozov, “dynamics of interest and Commission income in the first quarter met our expectations.” However, given the uncertainty in pandemic COVID-19, it was decided “to substantially increase the level of provisioning”, which ultimately influenced the financial result. The profit was lower than expected interviewees “RIA Novosti”, the analysts. According to their estimates, the profit was reduced by 31%, to at was 157.1 billion rubles., as the deteriorating macroeconomic situation in the epidemic of the coronavirus. The consensus forecast contributions to reserves amounted to 145,3 billion rubles. the Bank noted that interest income grew only by 0.5%, to 583,4 billion rubles, compared with the first quarter of 2019. While the loan portfolio over the same period rose by 11.2% to 23.2 trillion rubles (6.7% excluding the impact of currency revaluation). However, while interest expenses including expenses on insurance of deposits decreased by 12.9% to 211,5 billion rubles.. Even on the background of growth of volume of placed customers ‘ funds on Deposit. In particular, the increase in retail deposits was 3.2% and reached a volume of 14.7 trillion rubles, the Volume of corporate deposits grew by 13.9% to 8.4 trillion rubles while the average cost of retail deposits declined by 40 b. p., to 4.7%, while corporate — 90 b. p., to 3.5%.As pointed out by the senior analyst “BCS Premier” Sergei Suverov, the first quarter was characterized by the growth of reserves about three times compared to the same period last year, due to expected deterioration in asset quality against the background of the pandemic, but the most difficult for the Bank may be the second quarter. It also allocates the net fee and Commission income by 23%. Thus, according to him, the terms of Sberbank’s much better than other credit institutions, especially retail, “given the higher quality customer base”. In General, investors reacted positively to the overall expected results of the largest Bank. In the first hour of trading on the Moscow stock exchange quotation of ordinary shares of the Bank rose to 199,7 RUB, which is 2% above the closing environments��. The Moscow exchange index by this time rose by 1.1%.The Department of Finance