17 Jun 2010 19:03

Sberbank not planning to revise 2010 profit forecast

ST. PETERSBURG. June 17 (Interfax) - Sberbank Russia will preserve its earnings forecast for 2010 at 100 billion rubles, President and CEO German Gref told journalists on the sidelines of the St. Petersburg International Economic Forum.

Asked whether the bank planned to change the forecast after it reported a net profit of 58.1 billion rubles through the first five months, Gref said: "Not for now."

"The times are very turbulent. Excessive optimism might be punished," Gref said, noting that Sberbank is a conservative organization.