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Sberbank to Reach Record Net Profit Margin by End of 2016 - CEO

© Sputnik / Go to the photo bankSberbank Office in Moscow
Sberbank Office in Moscow - Sputnik International
Russia's largest lender Sberbank will have a record net profit margin by the end of 2016, Sberbank CEO Herman Gref said Tuesday.

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MOSCOW (Sputnik) Sberbank published on Tuesday its results for January-October 2016, calculated in line with Russian Accounting Standards, which showed its net profit had increased 140 percent on the same period last year to 429.8 billion rubles ($6.7 billion).

"It is already a record as of today. Naturally, if over a period of 10 months it is more than we have ever earned over a year, then it will certainly be a record at year-end," Gref told journalists.

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