16 Mar 2012 19:12

Sberbank could post higher IFRS earnings than RAS in 2011

MOSCOW. March 16 (Interfax) - Sberbank could see higher net profit to International Financial Reporting Standards (IFRS) than to Russian Accounting Standards (RAS) for 2011, the bank's chairman, German Gref, told reporters.

The final IFRS results are not yet in, Gref said, but they will "be no lower than for RAS, and probably higher," he said.

The bank posted net profit of 321.9 billion rubles to RAS not adjusted for events following the end of the reporting period or, adjusted for those events, 310.5 billion rubles.