Sberbank provisions hit 7 percent in June-CEO

Newswire

MOSCOW, June 26 (Reuters) - Russia's largest lender, state controlled Sberbank , made provisions for bad loans exceeding 7 percent of its portfolio, while 3 percent have already gone sour, its chief executive said on Friday. "The volume of non-performing loans as of June 15 was about 3 percent. Provisions rose above the 7 percent mark," Chief Executive German Gref told a news conference. "The rate of NPL growth is slowing. But we can't say for now whether it is a trend or whether there ...

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