10 Nov 2009 15:26


ST. PETERSBURG. Nov 10 (Interfax) - Sberbank President and Chairman German Gref told journalists in St. Petersburg on Tuesday that the bank's net profit according to Russian accounting standards came around 15 billion rubles in January-October 2009.

Gref added that the bank expects to post around 20 billion rubles in RAS net profit for this year.

"This year profit will not be large, maybe 20 billion rubles, maybe more," he said.

Gref added that reserves on possible losses by year's end are expected at over 10% Sberbank's total loan portfolio.