Sberbank aims for 20pc dividend

Russia’s biggest lender Sberbank plans to keep its dividends at no less than 20 per cent of net profit for the next five years after forecasting 2014 profit on par with last year's earnings despite a worsening economy and the Ukraine crisis. The economic decline prompted Sberbank to increase bad loan provisions in the first quarter, delivering an 18 per cent fall in earnings from the same period last year. Full-year net profit for 2013 was 362bn roubles (£6.2bn).