Bloomberg News

Sberbank 2008 Net Was 113 Billion Rubles, Under Russia Rules

January 29, 2009

OAO Sberbank, Russia’s largest lender, said 2008 net income totaled 113 billion rubles ($3.2 billion), under Russian accounting rules. The bank didn’t provide a comparative figure for 2007.

The bank, which released the number at the World Economic Forum in Davos, Switzerland today, said its credit portfolio last year rose 35.5 percent to 5.56 billion rubles.

Its consumer market share in the first 11 months was 52.5 percent and it held 513 billion in securities at year end.

“The bank’s financial situation on Jan. 1 was very positive,” Chief Executive Officer German Gref said.

To contact the reporter on this story: Lyubov Pronina in Davos at lpronina@bloomberg.net

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net


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