Support The Moscow Times!

Sberbank Q1 Profit Up 6%

Sberbank posted a 6 percent rise in first-quarter profit Wednesday, putting it in a strong position for its planned purchase of Turkey's Denizbank, with an estimated price tag of about $3.6 billion.

The bank's first-quarter net profit rose to 92.2 billion rubles ($2.9 billion).

Sberbank's loan book after provisions was up 6.8 percent, while net interest income increased almost by a quarter year on year to 156.3 billion rubles. Sberbank said that its return on equity, a key measure of profitability, was down slightly to 27.9 percent from 33.6 percent for the same period last year.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more