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Russia's Sberbank plans dividends at 50% of net profit in 2021-23

MOSCOW, Nov 10 (Reuters) - Russia’s largest lender Sberbank plans to pay 50% of net profit in dividends in 2021-23 as long as its capital adequacy ratio does not fall below 12.5%, Chief Executive German Gref said on Tuesday.

The state-controlled bank, which last month reported a 74% jump in third-quarter net profit, was still on track to miss its 2020 profit target of 1 trillion roubles ($13.10 billion) due to the coronavirus pandemic, Gref said.

$1 = 76.3500 roubles Reporting by Tatiana Voronova, Maria Kiselyova and Gabrielle Tétrault-Farber; Writing by Alexander Marrow and Andrey Ostroukh, editing by Louise Heavens

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