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Home > Finance > Russia's Sberbank reports record profits for 2024

Finance

Russia's Sberbank reports record profits for 2024

Published by Global Banking and Finance Review

Posted on January 17, 2025

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MOSCOW (Reuters) - Russia's largest lender Sberbank on Friday reported record annual profits of 1.56 trillion roubles ($15.22 billion)for 2024, helped by strong growth in corporate borrowing and high interest rates, which ended the year at 21%.

Sberbank made a 1.5 trillion rouble profit in 2023, a more than fivefold increase on the previous year, as Russia's banking sector recovered from the impact of financial sanctions over the country's actions in Ukraine.

($1 = 102.5000 roubles)

(Reporting by Elena Fabrichnaya in Moscow and Alexander Marrow in London; Editing by Christian Schmollinger)

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