3/15/2016, 10:48 AM (Source: TeleTrader)
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Sberbank’s fourth-quarter profit rises by 48.2%

Sberbank announced the net profit of RUB72.6 billion ($1.03 billion) for the last quarter in 2015, a rise of 48.2% compared to RUB49 billion year on year. According to the annual financial statement, during the fourth quarter in the last year, client deposits saw a growth of 8.3% in comparison with the 3rd quarter.

The Russian lender achieved return on equity of 10.2% in the last year because of recovery of net interest income and strong fee and commission income. The Group net profit was RUB222.9 billion in 2015, which is a 23.2% decline from a year ago.

Earnings per ordinary share in the last quarter were RUB13.45, while for the year EPS was RUB10.36, the statement said.

Sberbank, sanctioned by the United States and European Union because of the conflict between Russia and Ukraine, saw an improvement of the indicators in the 4th quarter, as Russian economy witnessed a recovery.

The company’s shares were down 0.57% to $6.592 at the London International at 10:11 a.m. CET.

Breaking the News / VP