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    Russia's Sberbank expects $4.5 bln net profit in 2007

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    MOSCOW, December 28 (RIA Novosti) - Sberbank expects net profit of at least 112 billion rubles ($4.5 billion) in 2007, the head of Russia's largest state-owned bank said on Friday.

    "Net profit in 2007 will be no less than 112 billion rubles," German Gref said.

    The figure was 89 billion rubles in 2006.

    The Sberbank management earlier forecast net profit calculated to Russian Accounting Standards (RAS) for 2007 at 118-120 billion rubles ($4.79-$4.87 billion).

    Gref also said the bank forecast for net profit in 2007 calculated to the International Financial Reporting Standards (IFRS) remains unchanged at 95-110 billion rubles ($3.9-$4.5 billion).

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