MOSCOW Oct 5 Sberbank on Friday
posted a 6-percent increase in nine-month net profit, helped by
a sharp lift in income from corporate and retail loans.
Russia's top lender, publishing its first results since it
floated a 7.6 percent stake for just over $5 billion last month,
said net earnings were 269 billion roubles ($8.7 billion).
The results were published under local accounting standards
which require less transparency over financial information and
the bank's shareholder structure but which are viewed as an
indicator of performance under international rules.
Sberbank said net interest income was up 25.8 percent
year-on-year thanks to a rise in corporate and retail loan
The bank hoisted its provisions for possible problem loans
to 40 billion roubles, compared with a writeback of 3 billion
roubles, to support a rapidly expanding loan book.
($1 = 30.9922 Russian roubles)
(Reporting by Katya Golubkova; Editing by Lidia Kelly and David