MOSCOW, November 16 (RIA Novosti) - Sberbank, Russia's largest state-owned savings bank, will increase its net profit by 37.3% year-on-year to more than $2 billion in 2005 according to Russian Financial Reporting Standards, First Deputy Chairman at Sberbank, Alla Alyoshkina, said Wednesday.
Alyoshkina said the bank's assets would reach $88 billion by the year's end vs. $69 billion at the start of the year, while its capital base would be $8.5 billion vs. $6 billion. She added that the figures might change when the revaluation of assets was taken into account.
Return on equity is expected at 26.6% against 26.3% in 2004, with a 2.7% return on assets vs. last year's 2.5%.
The deputy chairman said Sberbank might also close deals to purchase banks in Kazakhstan and Ukraine before the end of the year, and split its shares to increase its capitalization in 2006.
