Sberbank Russia (PK) (USOTC:SBRCY)
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1 Year : From Feb 2019 to Feb 2020
By Adam Clark
Sberbank Rossia (SBER.MZ) said Tuesday that its net profit rose in the first quarter of 2019 on rising income.
Russia's largest bank made a quarterly net profit of 226.6 billion rubles ($3.51 billion), up 6.8% from the year-earlier quarter. Profit from continuing operations rose 0.4% to RUB226.1 billion.
Operating income climbed 7.5% to RUB481.8 billion, driven by an 11% increase in net fee-and-commission income to RUB104.5 billion and a sharp increase in other non-interest income. Net interest income rose 1.2% to RUB337.5 billion.
Sberbank's annualized return on equity for the quarter declined to 22.9% from 24.2%. Its Common Equity Tier 1 ratio--a key measure of balance-sheet strength-- improved to 12.6% as of March 31 from 11.9% at the start of the quarter.
Write to Adam Clark at email@example.com; @AdamDowJones
(END) Dow Jones Newswires
April 30, 2019 04:04 ET (08:04 GMT)
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