22 Oct 2009 19:00

Sberbank net profit plunges over 90% to 9.1 bln rubles in 9 mths

MOSCOW. Oct 22 (Interfax) - Sberbank Russia posted a net profit of 9.1 billion rubles in January-September 2009 under Russian accounting standards, a decline of over 90% from the profit of 102.9 billion rubles in the same period last year, the bank reported.

It was reported earlier that Sberbank posted a net profit of 7.4 billion rubles through the first eight months of the year. Thus, Sberbank had a profit of 1.7 billion rubles in September.

Overdue loans (excluding cessions) totaled 3.7% compared with 3.6% on September 1.

Sberbank increased reserves 12.4% in September to 282 billion rubles in January-September, up from 250.9 billion rubles in the first eight months.