Finance
Russia's Sberbank reports record profits for 2024
Published by Global Banking & Finance Review®
Posted on January 17, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 17, 2025
1 min readLast updated: January 27, 2026
Sberbank, Russia's largest lender, reports record profits of 1.56 trillion roubles for 2024, driven by corporate borrowing and high interest rates.
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)
The main topic is Sberbank's record profits for 2024, driven by corporate borrowing and high interest rates.
Sberbank achieved record profits through strong growth in corporate borrowing and high interest rates.
Despite financial sanctions, Sberbank's profits increased significantly, indicating a recovery in Russia's banking sector.
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