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Russia's Sberbank says Q3 net profit at record 224 bln roubles
November 15, 2017 / 6:57 AM / 3 days ago

Russia's Sberbank says Q3 net profit at record 224 bln roubles

MOSCOW, Nov 15 (Reuters) - Sberbank, Russia’s largest bank, said on Wednesday it made a net profit of 224.1 billion roubles ($3.71 billion) in the third quarter, posting a record quarterly income and beating market expectations.

Analysts polled by Reuters had forecast Sberbank would make 189.8 billion roubles in net profit in July-September.

Sberbank said its net interest income increased to 375 billion roubles in the third quarter, up from 342.8 billion roubles a year ago.

Provisions against bad loans declined to 58.2 billion roubles from 101.7 billion roubles in the same period last year. ($1 = 60.3893 roubles) (Reporting by Maria Kiselyova, Katya Golubkova; Writing by Andrey Ostroukh; Editing by Jack Stubbs)

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