OAO Sberbank (SBER03), Russia’s largest lender, jumped by the most in more than a week as the ruble gained against the dollar.
The stock advanced as much as 1.6 percent, the biggest rise since April 3, and traded 1.3 percent higher at 96.81 rubles in Moscow.
The ruble strengthened for the first time in four days, appreciating 0.4 percent to 29.6358 per dollar. A stronger ruble discourages Russians from withdrawing and converting ruble deposits, Sberbank’s main source of funding.
VTB Group, Russia’s second-largest bank, also increased, adding 0.5 percent to 6.715 kopeks.
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