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Russia's Biggest Bank Announces Huge 2022 Fall in Profits

Russia's Sberbank on Thursday announced its net profit dropped nearly 80% in 2022 in the wake of the Russian invasion of Ukraine.

no more obstacles

Russia’s Sberbank Launches Operations in Annexed Crimea

Russia’s largest bank Sberbank is launching operations in Crimea for the first time since Moscow annexed the peninsula from Ukraine in 2014, Russian...

State Firms Gazprom, Sberbank Opt Out of Dividend Payout

Shares tumbled at both companies, which had previously predicted record payouts.

Russian Economy Faces 10 Years of Recession Without Reforms – Sberbank CEO

The comments reflect a pessimistic view of the Russian economy's chances at enduring Western sanctions unscathed.

'strategy update'

Russia’s Sber Sells Off Digital Services to Evade Sanctions – Reports

Sber has sold its video, audio and sports streaming platforms, as well as its cloud technology and biometric system research center.

China’s Visa, Mastercard Alternative Backs Away From Russia – Reports

Russian banks planned to issue cards using UnionPay after Visa and Mastercard suspended operations last month.

Former Sberbank Senior Executive Flees Russia – Vedomosti

Lev Khasis is at least the fourth publicly known senior Russian executive to make an abrupt exit since Russia invaded Ukraine.

Russia's Largest Lender Sberbank Leaving Europe

European banking regulators said the European subsidiary of Sberbank would be wound up.

reputational impact

European Subsidiary of Russia's Sberbank to Enter Bankruptcy

Sberbank AG suffered financing issues following the announcement of tough European Union sanctions aimed at choking off Russian banks' access to capital...

Sberbank Accelerates Ecosystem Investment

The state-owned banking giant is pouring resources into its quest to become one of the country's leading internet companies.

Sberbank Named Most Profitable Bank Investment of Last 5 Years

The state-controlled lender has been delivering higher shareholder returns than any other major bank in the world since 2016.

Sberbank, Mail.Ru On Brink of $2Bln Corporate Divorce – FT

The newspaper reports the two sides have asked the Kremlin to weigh in on dividing their $2 billion food delivery and ride hailing joint venture.

Sberbank Announces $400M E-Commerce Investment

Russia’s state-owned lender continues its push into the technology and consumer spheres.

DESPITE CORONAVIRUS

Russia’s Sberbank Posts $10Bln Profit in 2020

Profits down on 2019, but state-owned lender weathers coronavirus storm better than first expected.

Russia in 2021: A Corporate Reckoning?

The pandemic exposed deep divides in Russia’s corporate world. How will the recovery play out?

THE SBER ECONOMY

Sberbank’s Big Plan to Become Russia’s Consumer Goliath Takes Shape

The state-owned lender will launch an online retail giant in 2021, as it aims to be the main player in almost every sphere of Russian life.

CLASH OF THE TITANS

Yandex vs. Sberbank: Battle of the Russian Tech and Finance Giants Begins

Two of the country’s highest-profile companies have unveiled plans to dominate a host of cutting-edge industries.

DON’T CALL US A BANK

Russia’s Sberbank Unveils Sweeping Transformation Into Tech Company

State-owned bank outlines host of Apple and Amazon-style services and drops “bank” from corporate branding.

CORONAVIRUS RECESSION

Coronavirus Pandemic Rebalances Russia’s Corporate Landscape

Earnings season shows tech companies setting record-high share prices, and closing the gap on Russia’s energy giants.

Yandex and Sberbank Finalize Divorce

One of the most high-profile Russian corporate partnerships is winding up.

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