Sberbank's pre-tax profit in January-March rose 26.1% to 31.7 billion rubles ($1.23 billion). In 2006, the bank's RAS profit grew 42% to 89.3 billion rubles ($3.47 billion).
Russia's largest bank, Sberbank increased its assets by 18% to 8.5 trillion rubles ($330.7 billion) in the first quarter.
"The sustainable development of business and receipts in the reporting period from a new share offering were the main factors behind growing assets," the bank said in a statement.
Sberbank earlier said it had raised 230.24 billion rubles (about $8.86 billion) from its domestic rights offering of 3.5 million new shares at 89,000 rubles (about $3,396) per share through open subscription between February 22 and March 24. The bank said it had raised funds to meet growing demand for loans.
