Sberbank’s Pay for Board Members Jumps by 32 Percent, IFX Says

OAO Sberbank (SBER), Russia’s largest bank, increased the level of pay for its board members last year by 32 percent, Interfax reported, citing the lender’s news service.

The overall pay for the board members rose to 1.96 billion rubles ($65 million) from 1.48 billion rubles in 2010, the news agency said. The rise was connected to the lender’s jump in profit, Interfax reported, citing Sberbank’s news service.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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