30 Aug 2011 17:46

Sberbank sees no danger of net interest margin going down much

MOSCOW. Aug 30 (Interfax) - Sberbank of Russia does not see any threat of a substantial decrease in its net interest margin down the road, the bank's deputy chairman, Anton Karamzin, told reporters during a Tuesday conference call.

"The level of the margin now corresponds to the forecasts we have spoken about. We do not see a danger of any long-term considerable change in these levels," Karamzin said.

Sberbank's net interest margin as calculated to International Financial Reporting Standards (IFRS) was 6.4% in H1 2011.

Karamzin said back in May that the bank's IFRS net interest margin was stabilizing at 6.2%-6.4% in Q2.