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
Sberbank Reports Record Profits for 2024 Amid High 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)
