Sberbank 5-Month Net Up

By The Moscow Times

June 7, 2012

Sberbank said net income advanced 13 percent in the first five months from the same period last year.

Profit under Russian accounting standards jumped to 155 billion rubles ($4.8 billion) from 136.9 billion rubles in 2011, according to the lender's website.

Net interest income, the difference between what a bank earns from lending and what it pays on deposits, gained 26 percent for the first five months compared with the same period in 2011. Non-performing loans declined to 3.3 percent from 3.4 percent.

(Bloomberg)

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