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Financials

Russia's Sberbank Jan-Feb profit rises fivefold

MOSCOW, March 16 (Reuters) - Sberbank SBER03.MM, Russia's biggest lender, said its net profit in January-February soared fivefold over the same year-ago period to 24.4 billion roubles ($828.8 million), but provisions continued to pressure income.

For January alone, state-controlled Sberbank had reported net profit of 11.7 billion roubles under Russian accounting standards. (Reporting by Dmitry Sergeyev; editing by Maria Kiselyova)

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