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Sberbank Report Changed

Sberbank lowered its 2010 net income report to about 175 billion rubles ($6 billion), chief executive German Gref said Monday during a meeting with Vladimir Putin at the prime minister's residence near Moscow.

Sberbank reported profit of 183.6 billion rubles under Russian accounting standards on Jan. 25. That figure "will be subject to correction, so-called post-

balance-sheet events," Gref said.

Profit will be a "significant figure in the region of 175 billion rubles, which is twice as good as in Sberbank's best years," Gref said.

(Bloomberg)


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