(Adds detail)MOSCOW, Oct 28 (Reuters) - Russia’s largest lender Sberbank reported on Thursday record net profit of 348.3 billion roubles ($4.9 billion) in the third quarter but raised provisions as it classified assets of its subsidiary in Ukraine as restricted.
Sberbank, which had nearly 103 million retail clients in September, said its third-quarter net profit rose 28.3% year-on-year.
In the second quarter, Sberbank’s provisions stood at 27.2 billion roubles.
“The reason for such classification was the regulatory restrictions that do not allow the Group to manage fully the mentioned assets,” Sberbank said of its Ukrainian subsidiary.
Sberbank shares were down 0.3% on the day at 370.15 roubles after the results, performing better than the benchmark MOEX index that fell 0.6%.
Sberbank, ROE, ” Sberbank
MOSCOW, Ukraine, Crimea, Russia