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State-controlled bank Sberbank said in a statement Friday that it has a market value of $86 billion
State-controlled bank Sberbank said in a statement Friday that it has a market value of $86 billion, ranking it as the second largest company in Russia. "This demonstrates that Sberbank is ranked second after Gazprom for Russian companies," the savings bank said. Sberbank shareholders, the Central Bank owns over 60% of shares, reelected Central Bank Chairman Sergei Ignatyev as head of the supervisory board. At their annual meeting Friday, the shareholders also approved a new line up for the supervisory board, comprising 11 government representatives, three Sberbank managers, and three minority shareholders. A decision was taken to earmark 10% of the bank's net profit in 2006 to pay dividends to shareholders. Sberbank's net profit in 2006 calculated to International Financial Reporting Standards increased 25.8% to 82.8 billion rubles ($3.2 billion). Consequently, dividends from the common stock grew 44.9% comparing to those in 2005, which represented 8.5% of its net profit. Sberbank will pay 385.5 rubles ($15) per common share and 9.3 rubles ($0.36) per privileged one. The bank's charter capital of 67.8 billion rubles ($2.6 billion) is divided into some 21.6 million common shares worth 3,000 rubles and 50 million privileged shares worth 60 rubles.
Print State-controlled bank Sberbank said in a statement Friday that it has a market value of $86 billion Bookmark State-controlled bank Sberbank said in a statement Friday that it has a market value of $86 billion

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