MOSCOW, Nov 9 (PRIME) -- Russia’s biggest lender Sberbank is considering increasing dividends for 2017 to 35–40% of net profit calculated under International Financial Reporting Standards (IFRS), Bloomberg reported Thursday citing two sources familiar with the situation.
The bank’s board of directors is considering implementing a plan to raise dividend payments to 50% of profit in 2018 in two stages, the agency said.
Finance Minister Anton Siluanov said in October that Sberbank can ensure dividend payments of 50% of profit.
Sberbank’s dividend policy encompasses dividend payments of 20% of IFRS net profit. In 2016, the bank allotted 25% of IFRS net profit for dividends.
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