Sberbank on track for growth

Russia’s Sberbank expects that its 2012 net profit under local accounting standards will total at least 340bn roubles (£6.9bn), the bank’s chief executive officer German Gref told reporters yesterday. The state-controlled lender last month reported a 12 percent increase in RAS net profit for the first 11 months of the year to 332.3bn roubles. In 2011, its net profit under RAS came in at 321.9bn roubles.