May 30, 2018 / 7:56 AM / 6 months ago

Russia's Sberbank Q1 net profit up 27 percent

MOSCOW, May 30 (Reuters) - Russia’s largest lender Sberbank said on Wednesday its net profit was 212.1 billion roubles ($3.39 billion) in the first quarter of 2018, up 27.3 percent year on year.

Analysts polled by Reuters had on average expected Sberbank to post 211.3 billion roubles in net profit for the first three months of 2018.

Sberbank said its net interest income rose 6.5 percent year on year to 358.6 bln roubles, while its provisions against bad loans declined to 49.1 billion roubles from 67.4 billion roubles in the same period of 2017.

$1 = 62.5950 roubles Reporting by Andrey Ostroukh and Tatiana Voronova; Editing by Mark Potter

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