You're reading: Financial Times: Sberbank reports latest record profit for Russia’s biggest bank

Sberbank, Russia’s largest bank, posted a whopping 38 percent rise in full-year net profits and a 22 percent year-on-year increase in the measure for the final quarter of 2017.

The state-run lender, which surpassed Santander to become Europe’s largest bank by market capitalization this week, reported a quarterly net profit of Rbs172.4bn ($3bn). Its net profit for the year was a record Rbs748.7bn, up 38 percent from 2016.

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