Sberbank Shares Surge on Moscow Exchange

Shares of Sberbank, Russia’s largest bank, jumped about 8% today, Friday, after recommending dividends to shareholders for 2022, and against this backdrop, the Moscow Exchange index rose.

And by 14:01 Moscow time, the MICEX ruble stock index rose by 1.90% to 2301.92 points, while the RTS dollar stock index rose by 1.94% to 945.22 points.

At the same time, the shares of Sberbank rose by 7.53%, to 1880.49 rubles.

The head of Sberbank, German Gref, said that since the beginning of the year, the bank has seen growing growth in the mortgage sector, as the number of applications for a mortgage loan submitted to the bank in February last year exceeded the January level by 14.%, and compared to February 2022 growth was 18%, which is the engine of profit growth.

Gref pointed out that Sberbank’s supervisory board had recommended paying dividends for 2022 to shareholders in the amount of 25 rubles per share, subject to equal dividends on ordinary and preferred shares, indicating that 565 billion rubles (about $7.33 billion) would be allocated. to pay dividends.

Source: RT + News

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