November 1, 2018 / 7:16 AM / 17 days ago

Russia's Sberbank Q3 net profit at $3.47 bln, beats forecast

MOSCOW, Nov 1 (Reuters) - Russia’s largest lender Sberbank said on Thursday its net profit was 228.1 billion roubles ($3.47 billion) in the third quarter, up 1.8 percent year on year and exceeding market expectations.

Analysts polled by Reuters had on average expected Sberbank to post 204.3 billion roubles in the third-quarter net profit.

Sberbank said its net interest income rose 3.2 percent year on year to 359.3 billion roubles, while its provisions against bad loans increased to 59.5 billion roubles from 51.4 billion roubles in the same period of 2017. ($1 = 65.6877 roubles) (Reporting by Andrey Ostroukh, Katya Golubkova and Tatiana Voronova Editing by Edmund Blair)

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