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Sberbank estimates 2008 net profit

February 14, 2008 | RBC

Sberbank's net profit under RAS is estimated at RUB 130bn (approx. USD 5.27bn) in 2008, the bank's CEO and Chairman of the Board German Gref told journalists today. He pointed out that that his forecast was very pessimistic, as the final figure would depend on the market conditions.

Gref also noted that one of the primary goals of Sberbank's management was to cut expenditures considerably, adding that the goal was incorporated in the bank's development strategy that was being drafted. An increase in expenditures is estimated to reach 20 percent in 2008 compared to 30 percent a year earlier.

Company: Sberbank

Full company nameSberbank of Russia
Country of riskRussia
Country of registrationRussia
IndustryBanks

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