Russia's Sberbank posts record profit in Q3, strengthening case for dividend boost

Moscow

SBERBANK PJSC set a record for profit in the third quarter, strengthening the case for fatter dividends as Russia's biggest bank weighs changes to shareholder payouts.

Net income rose 62 per cent from a year earlier to 222 billion roubles (S$5 billion), compared with a 193 billion rouble average estimate of eight analysts surveyed by Bloomberg. The previous record was set in the second quarter. Sberbank is considering a plan to raise dividends to as much as 40 per cent of this year's profit, Bloomberg reported last week, citing two people with direct knowledge of the discussions.