MOSCOW, February 27 (RIA Novosti) -- Sberbank, Russia's largest state-owned savings bank, posted net profits of 11.7 billion rubles (about $416 million) in the first month of 2006, up 3.5%, on January 2005, the bank said Monday.

The bank reported pre-tax profits for the first month of 2006 at 12.6 bln rubles ($448 mln).

The bank's equity capital as of February 1, 2006 was at 265.2 bln rubles ($9.43 bln).

Its loan portfolio on that date totaled 1.930 trillion rubles ($68.6 bln), of which lending to corporate entities was 1.399 trillion rubles ($49.75 bln).

Sberbank's network comprises 17 territorial banks, 992 branches, and 19,265 sub-branches.