ST. PETERSBURG, June 6 (RIA Novosti) - Russian state-controlled bank Sberbank's net profit calculated to Russian Accounting Standards increased by 27.5% year-on-year in the first five months of 2008 to 56.5 bln rubles ($2.37 bln), its CEO said Friday.
German Gref said at an international economic forum in St. Petersburg that the cost-income ratio declined to 45.4% down from last year's 48.3%.
More than half of Russian households hold bank accounts with Sberbank. Russia's Central Bank controls more than 60% of Sberbank's voting stock.
The St. Petersburg International Economic Forum is an annual event held with the support of the Russian president. It gathers world leaders to discuss prominent economic issues faced by Russia and the international community.
