Sberbank posted a 6-percent increase in nine-month net profit, helped by a sharp lift in income from corporate and retail loans.
The bank, publishing its first results since it floated a 7.6 percent stake for just over $5 billion last month, said Friday that its net earnings were 269 billion rubles ($8.7 billion).
The results were published under local accounting standards, which require less transparency over financial information and the bank's shareholder structure but are viewed as an indicator of performance under international rules.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.