Sberbank 1H 2008 Net Profit jumps 40%
Published: 20 October, 2008, 13:26
Russia’s largest bank, Sberbank has reported a Net Profit of 67.2 Billion Rubles, or $2.55 Billion under IFRS.
The bottom line result was up 40% on the same period 2007, with pre tax profit up 42% to 87.4 Billion Rubles, or $3.3 Billion, on the back of Operating Revenues of 196.07 Billion Rubles, or $7.47 Billion.
Consumer loans increased 12% to 735.2 Billion rubles, Commercial loans to corporate clients rose 12% to 1.97 Trillion Rubles, and Deposits from individuals increased 15% over the half to 4.47 Trillion Rubles. Assets rose 14% to 5.6 Trillion rubles.
20.10.2008, 09:47
X5 to slash office staff by 30% and freeze new store openings in 2010-2011Major Russian retail chain, the X5 Group, operator of the Perekrestok and Pyaterochka grocery networks, has announced that it will reduce administrative staff by up to 30%, and freeze a number of scheduled projects due for completion in 2010 and 2011, in |
20.10.2008, 13:59
Credit crunch hits Russia’s richest in the pocketThe recent losses of Russia's richest businessmen, in the wake of the meltdown of the worlds equities markets, and ensuing financial chaos, have been calculated by Smart Money magazine. If the upside of being a wealthy business men is that you have loads |
