February 27, 2020 / 7:22 AM / a month ago

Russia's Sberbank reports 20% increase in Q4 net profit

MOSCOW, Feb 27 (Reuters) - Russia’s largest lender Sberbank on Thursday reported a 20.3% year-on-year increase in its 2019 fourth-quarter net profit to 212 billion roubles ($3.25 billion).

Its annual net profit rose to 845 billion roubles from 831.2 billion in 2018.

Russia this month announced it would tap into its rainy day fund to purchase the central bank’s stake in Sberbank.

$1 = 65.3110 roubles Reporting by Gabrielle Tétrault-Farber and Andrey Kuzmin; editing by Jason Neely

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