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Russia's Sberbank Suffers Dip In Profits


Russia's biggest lender Sberbank saw profits dip in the second quarter of 2015.

According to data released by the bank on August 26, Sberbank's net profit dropped 44 percent to 54.6 billion rubles ($783 million) compared to the same quarter in 2014.

However, that second quarter figure is about 80 percent higher than the company's reported net profit for the first quarter of 2015.

Like other major state banks, Sberbank has been battered by Western sanctions over Russia's role in the Ukraine crisis.

Based on reporting by AFP
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