Sberbank Completes  Loan Provision for Croat Co.
Sberbank Completes  Loan Provision for Croat Co.

Sberbank Completes Loan Provision for Croat Co.

Sberbank Completes Loan Provision for Croat Co.

Russia’s largest lender Sberbank has completed building up provisions for a loan it gave to Croatia’s indebted food and retail company Agrokor, the bank’s press office said on Wednesday. Sberbank’s exposure to Agrokor amounts to about 1.1 billion euros. To lift part of the burden from the struggling Croatian food group, Sberbank last month bought a stake in Slovenian food retailer Mercator from Agrokor, Bloomberg reported on Wednesday. Meanwhile, Russia’s largest bank, said it made a net profit of 185.6 billion roubles ($3.14 billion) in the second quarter, posting a record quarterly result and beating analysts’ forecasts. Analysts polled by Reuters had forecast Sberbank would make 167.4 billion roubles in net profit in April-June. Sberbank said its net interest income increased to 357.6 billion roubles in the second quarter from 339.3 billion roubles a year ago, while return-on-capital was at 24.8% versus 22.8% a year ago.Provisions against bad loans declined to 89.1 billion roubles in April-June from 96.5 billion roubles in the same period of 2016.


Short URL : https://goo.gl/So858C
  1. https://goo.gl/BZ14Kg
  • https://goo.gl/AhqJCf
  • https://goo.gl/pYdtC6
  • https://goo.gl/QsnbQk
  • https://goo.gl/kvTJuJ

You can also read ...

Venezuela Devalues Currency by 95 Percent
Venezuela devalued its currency by about 95% ahead of the Aug...
The average annual salary for K–12 public-school teachers is roughly $58,000, and they typically spend a sizable chunk  of that on classroom supplies integral to their jobs
Airbnb, the popular platform that lets people rent out their...
Nigeria CB Reports $91b FX Inflow in 2017
The Central Bank of Nigeria, said the aggregate foreign...
S&P, Moody’s Lower Turkey Ratings
Two major global ratings agencies lowered Turkey’s ratings Aug...
Egypt Keeps Rates Steady
Egypt’s central bank left its main interest rates unchanged,...
Argentina Says Poverty to Rise as Economy Slumps
More Argentines are likely living in poverty now compared with...
China News Apps Co. Files for US IPO
Chinese content aggregator Qutoutiao Inc, which is backed by...
Long Road to Greek Recovery
On Monday, Greece exits the third and final bailout program of...

Add new comment

Read our comment policy before posting your viewpoints