Sberbank Northwest Russia Earns Net Profit of USD 101.75 Million in 2003

Sberbank Northwest Russia earned a net profit of USD 101.75 Million for 2003, said Sberbank Northwest Russia Chairman Leonid Shats in a press conference today. He said the bank's total assets also increased by 34.2% for the year to USD 4.04 billion. The bank had investments worth USD 34.01 million in 2003. Meanwhile, Sberbank Northwest Russia made loans to individuals worth USD 259.65 million or a 212% increase year-on-year. Loans to companies also increased by 27% to USD 666.67 million or a quarter of the regional market.

Sberbank Northwest Russia operates in Saint Petersburg and Leningrad, Kaliningrad, Murmansk, Pskov and Novgorod regions as well as Karelia. It has the most branches of any financial institution in the region - more than 1 thousand.