MOSCOW: Sberbank, Russia's top lender by assets, said on Thursday its first half net profit was down 2.3 percent to 170.4 billion roubles ($4.7 billion).

Sberbank posted 174.5 billion roubles net profit for the first six months of last year.

Sberbank added its loan loss provisions stood at 73.8 billion roubles in the second quarter of 2014, up from 30.9 billion roubles a year ago.

Sberbank added its Tier 1 capital adequacy ratio was at 10.5 percent, down 10 basis points.

Sberbank is one of five Russian banks subject to European Union sanctions which ban all EU nationals and companies from buying or selling new bonds, equity or other financial instruments it issues with a maturity of more than 90 days.