Sberbank Pares Steepest Drop in 3 Months as Two-Month Net Gains

OAO Sberbank (SBER), Russia’s largest lender, pared its sharpest drop in almost three months after net income in January-February rose.

The shares added 0.4 percent to 97.67 rubles as of 12:21 p.m. in Moscow after sinking 4.8 percent yesterday, the biggest intraday drop since Dec. 9.

Profit climbed 17 percent from the same two-month period last year under Russian accounting standards to 61.7 billion rubles ($2.1 billion).

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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