Sberbank Q3 Net Profit Rises 9.9%

Russia's OAO Sberbank

reported a 9.9% rise in its third-quarter net profit. Sberbank's quarterly net profit surged to 87.5 billion rubles ($2.84 billion), from RUB79.6 billion, in the year-ago period. However, analysts were expecting a profit of RUB83.6 billion. Its net interest income rose to RUB179.6 billion from RUB142.8 billion, versus analysts' estimates of RUB176.3 billion. Sberbank shares closed at $11.93 yesterday.