SBERBANK reported a record net profit for 2005. The profit is estimated at R62.9 billion under RAS and R65.8b under IAS. Over the year, the bank brought its market capitalization from $20b to $29b, moving up to fourth place among Russia’s largest companies (trailing only GAZPROM, LUKOIL and SURGUTNEFTEGAZ) and to 43rd spot among the world’s biggest banks. The bank’s assets increased by 31% to R2.6 trillion last year, and now account for 26.5% of overall assets in Russia’s banking system. As a result of its 2005 performance, the bank holds 54.2% of Russia’s private deposit market, 44.1% of its consumer lending market and 32.2% of its corporate loan market.
Source: WWW.KOMMERSANT.RU, June 19, 2006
