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Sberbank Remains Cautious

Sberbank will keep its bad-loan provisions for now while remaining “cautiously optimistic” about the economy, Alexander Morozov, head of the bank’s finance department, said Wednesday.

“We’re in no hurry to reduce provisions,” he told reporters. “We’re the most liquid blue chip in Russia. We’re more liquid than Gazprom.”

Sberbank has raised its estimate for net income this year to as much as 120 billion rubles, up from a previous estimate of 100 billion rubles, Morozov said. 

(Bloomberg)


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