In first-quarter profit of Sberbank has doubled

In the first quarter of 2011 Sberbank of Russia increased its net profit under IFRS (International Financial Reporting Standards) is almost doubled: up to 86.8 billion rubles. with 43.5 billion (first quarter 2010). This was reported on the website of the State Bank on Tuesday, May 31. Gross income of the credit institution has made 90,3 billion rubles., Operating income - 169 800 000 000 rub. Return on equity rose to 33.6%. Sberbank's assets increased to 8.7 trillion rubles., Credit portfolio - by 2,4%. The securities portfolio decreased by 0.6% to 1.8 trillion rubles. During the first four months of the credit institution's net profit totaled 111.2 billion rubles. Recall that in late 2010, President of Sberbank German Gref predicted that in 2011 net profit will exceed the threshold of 200 billion rubles. Analysts believe that now the failure of this forecast is highly unlikely.