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Russia's Sberbank beats Q2 forecast on provisions

Russia's top bank Sberbank (: SBER03-MZ) made net profit of 54.6 billion roubles ($786 million) in the second quarter, better than analysts had forecast, as its provisions were lower than expected and it made sizeable foreign exchange gains. Its earnings were up 78 percent on the previous quarter but 44 percent lower than a year earlier. Sberbank, like other large Russian state banks, is under ...
Source: Reuters