Sberbank expects $1bn net income for 2002 - 20 January, 2003

According to Russian accounting standards, Sberbank's net income is expected to amount to 30bn rubles (about $1bn) for 2002, Gennady Melikyan, the Deputy Chairman of Sberbank, told journalists today. He mentioned that in 2001 this figure was about 17bn rubles (about $550m).

The increase in deposits was about 43 percent last year. The advance in currency deposits was a bit higher than of ruble deposits, he said.

Moreover, in 2002 the volume of Sberbank's credits grew by about 60 percent.

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