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Sberbank's pre-tax profits up 53% y-o-y in 10M05

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MOSCOW, November 28 (RIA Novosti) - Sberbank, Russia's largest state-owned savings bank, posted pre-tax profits of $2.45 billion in the first ten months of 2005, representing a 52.6% year-on-year increase, the bank announced Monday.

Previously the bank had reported pre-tax profits for the first nine months at $2.19 billion, up 46.8% year-on-year, and net profit of $1.67 billion for the same period, up 43.3%.

Sberbank forecasts its net profit will top $2.08 billion by the end of the year.

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