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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Investcafe
Provider: Investcafe

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Sberbank Rossii OAO maintains FY 2014 net profit guidance-DJ

Friday, 6 Jun 2014 02:19am EDT 

Sberbank Rossii OAO:Sberbank is sticking to its 2014 net profit target despite continuing turmoil in Ukraine, the bank's deputy chairman said-DJ.At the beginning of this year Sberbank forecast that 2014 net profit would be slightly above the 362 billion Russian rubles ($10.4 billion) the bank reported for 2013.Alexander Morozov told reporters that Sberbank isn't changing its profit forecast but declined to give an exact figure, adding that in the current situation any target could be taken the wrong way.Sberbank said that net profit under Russian accounting standards slipped 1 percent to 155.3 billion rubles in the first five months, while total provision charges jumped to 119 billion rubles from 43 billion rubles seen a year ago, reflecting the bank's readiness for loan defaults.FY 2014 net income of 364,327 million rubles - Thomson Reuters I/B/E/S Estimates. 

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