MOSCOW (Reuters) -Russia's dominant lender Sberbank on Friday reported an 11.3% increase in first-quarter net profit to 397.4 billion roubles ($4.32 billion) and sharply raised its retail loan growth forecast for the year. Sberbank made record profits of 1.5 trillion roubles in 2023, a more than five-fold increase on the previous year, as Russia's banking sector recovered from the impact of financial sanctions over Russia's actions in Ukraine. The state-owned bank, which dominates Russia's banking sector with around 110 million retail clients, this week announced plans to make a record annual dividend payment of more than $8 billion.
Russia s dominant lender
Sberbank on Friday reported a first-quarter net profit
of 397.4 billion roubles , up 11.3% from a year
earlier. Sberbank made record profits of 1.5 trillion.
Russian internet giant
Yandex reported a 40% rise in first-quarter revenue to 228.3
billion roubles , driven by growth in e-commerce
and ride-hailing, with the market awaiting news on a.
Russia s central bank on Friday said it would raise risk premiums on unsecured consumer loans from July 1 in an effort to reduce citizens debt burdens and increase stability in the banking sector.
Russia's Yandex Reports Q1 Revenue Rise as Market Awaits Spin-Off News usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.