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Russia's Sberbank makes record 167 bln rouble Q1 profit
May 24, 2017 / 7:12 AM / 4 months ago

Russia's Sberbank makes record 167 bln rouble Q1 profit

MOSCOW, May 24 (Reuters) - Sberbank, Russia’s largest bank, made 166.6 billion roubles ($2.96 billion) of net profit in the first quarter, the bank said on Wednesday, posting the best quarterly result that was slightly better than analysts had forecast.

Sberbank has outperformed rivals during Russia’s economic crisis, posting solid profits in the past year.

Analysts polled by Reuters had forecast Sberbank would make 160 billion roubles of profit in the first three months of the year.

In the first quarter of 2016 Sberbank made 117.7 billion roubles of net profit. ($1 = 56.2300 roubles) (Reporting by Alexander Winning; Editing by Andrey Ostroukh)

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