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Russia's state-controlled retail savings bank Sberbank said on Tuesday
Russia's state-controlled retail savings bank Sberbank said on Tuesday its net profit calculated to International Financial Reporting Standards grew 28.6% year-on-year in 2007 to 106.5 billion rubles ($4.5 billion).

Sberbank, which holds more than half of Russian household deposits, said net profit exceeded the bank's 100 billion ruble ($4.2 billion) projection for last year.

Asset value in the reporting period grew 42.2% to 4,929 billion rubles ($209 billion) and shareholder equity more than doubled to 637.2 billion rubles ($27 billion), Sberbank said.

Russia's Central Bank controls more than 60% of Sberbank's voting stock.


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