Russia's Sberbank Q1 Net Profit Climbs by 45.5% to $3.5 Bln

Russia's Sberbank gained a net profit of over 207 billion rubles in the first quarter, according to its reporting published Wednesday.

MOSCOW (Sputnik) — Russia's largest lender Sberbank gained a net profit of over 207 billion rubles ($3.5 billion) in the first quarter, according to its reporting published Wednesday.

The earnings based on Russian Accounting Standards represent a 45.5-percent increase over the same period last year, according to Sberbank. The bank earned a net profit of $893 million in April.

Sberbank's net interest margin in January-April climbed by 5 percent year-over-year to total $6.5 billion over lower interest rates on customer deposits.