Sberbank Full-Year Net Profit Declines

Russia's Sberbank reported a 20% drop in its 2014 net profit. Sberbank's net profit for the year slipped to RUB290.3 billion, versus a year-ago profit of RUB362 billion. Its net interest income gained 18% to RUB1.02 trillion, under IFRS. As of Dec. 31, the share of nonperforming loans climbed to 3.2% of total loans, versus 2.9% at the end of 2013. Net loans to customers rose 38% to 17.8 trillion rubles versus 12.9 trillion rubles, while fee and commission income jumped 28% to 282.3 billion rubles.