"Revenues from transactions with securities declined due to the situation on global financial markets," said Anton Karamzin, the deputy chairman of Sberbank's board.
The global credit crunch, sparked by the subprime mortgage crisis in the United States, quickly spread to Asia and Europe leading to record losses on global financial markets and a worldwide liquidity shortage.
Karamzin said Sberbank's revenues from securities operations for the first half of 2007 totaled 21 billion rubles ($800 million).
Sberbank, which holds more than half of Russian household deposits, posted on Monday a net profit calculated to International Financial Reporting Standards of 67 billion rubles ($2.6 billion) in January-September, up 39.6%, compared with the same period last year.
The results exceeded the expectations of most analysts, who predicted half-yearly net profit would grow around 32% to 63 billion rubles ($2.4 billion).
