BREAKING NEWS

Now Reading:

Sberbank defies forecasts for profitable Q1


economy

Sberbank defies forecasts for profitable Q1

Sanctions-hit Russian bank Sberbank has reported better-than-expected profits, even if they are 58% down on the previous year.

Sberbank made a Q1 net profit of 536 million euros, with return on equity netting 5.9%, a investor-deterring fall of 9.4%.

This profitability black hole can also be explained by a slowing economy and a rise in the declared non-performing loan ratio to 3.9%.

The bank holds about 30% of Russia’s total banking assets, and this dominant position has allowed it to weather some of the financial problems of the stalling economy until now.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

economy

Markets rise as hopes of Greek debt deal defy mixed messages