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Sberbank Profits Squeezed

Sberbank Profits Squeezed Sberbank Profits Squeezed

Russia’s biggest lender Sberbank said Wednesday its profits fell 10 percent year-on-year in the first nine months of 2014 as the sanctions-hit bank stepped up loan-loss provisions due to the slowing economy and falling ruble, AFP reported. “The group’s net profit in the first nine months of 2014 was 241.3b rubles, down 10.1% compared to the same period of 2013,” Sberbank said.

 

Financialtribune.com