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Sberbank Sets More Aside To Cover Potential Bad Loans

MOSCOW (Reuters) - Russia's biggest lender, Sberbank , has doubled the amount of money it sets aside to cover potential bad loans, seeking to protect itself against any deteriorati... More MOSCOW (Reuters) - Russia's biggest lender, Sberbank , has doubled the amount of money it sets aside to cover potential bad loans, seeking to protect itself against any deterioration in borrowers' ability to repay in a slowing economy. However, the bank also said on Monday that the quality of its loan portfolio had so far not got any worse, with overdue loans accounting for 2.48 percent of the total in September, compared with 2.54 percent at the same time last year. Russian banks have piled into high-margin consumer lending in recent years to offset a slowdown in corporate borrowing. ... Find more Wochit videos on Yahoo Screen. Less

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