OREANDA-NEWS. May 27, 2009. Sberbank saw a 57x plunge in RAS net profit in January-April 2009, to RUB0.8 bn from RUB45.6 bn in the same period last year, the bank reported. Pre-tax profit amounted to RUB 1.8 bn vs. RUB 62.1 bn in January-April 2008.

Sberbank closed the first quarter with almost no profit and posted RUB 0.3 bn gains. Pre-provisioning profit rose 37.6%, net interest income climbed 46.2% and net commissioning income advanced 10.7%. Opex declined 7.5% and provisioning expenses grew 11x y-o-y, the bank said without mentioning the amount of allocations.