Moscow: Russia’s largest bank, Sberbank, made record quarterly profit of 167 billion roubles (Dh10 billion) in the first three months of the year, helped by cheaper funding and risk management costs as the economy improved. State-controlled Sberbank has consistently outperformed since 2014, when the Russian economy fell into a deep slump as oil prices plunged and the West imposed sanctions on banks and companies over the Ukraine conflict. Sberbank holds around a third of total banking sector deposits in Russia, meaning it is less dependent on more costly central bank financing than other Russian banks.