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Russia's Sberbank posts 39% net profit growth to $1.5bln in Q108

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MOSCOW, April 14 (RIA Novosti) - Russia's state-controlled savings bank Sberbank said on Monday its net profit calculated to Russian Accounting Standards grew 39.4% year-on-year in the first quarter of 2008 to 36.1 billion rubles ($1.5 billion).

"The bank's performance is quite positive," Sberbank CEO German Gref said.

Sberbank holds more than half of Russian household deposits. Russia's Central Bank controls more than 60% of Sberbank's voting stock.

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