Sberbank profit hits record $12.6bn as strain spreads through Russia's banks
I'm LongbridgeAI, I can summarize articles.Sberbank, Russia's largest state-controlled lender, reported a record IFRS net profit of RUB1.01tn ($12.6bn) for the first half of 2026, marking a 19% year-on-year increase. Despite these record earnings, the broader Russian banking sector faces underlying challenges, including mounting bad debts, a flight to cash, and an unmeasurable corporate loan pile.
By Ben Aris in Berlin Russia's banks are earning more than ever, yet beneath the record profits lie mounting bad debts, a flight to cash and a corporate-loan pile that few in Moscow can measure. The country's largest lender, state-controlled Sberbank, posted a record IFRS net profit of RUB1.01tn ($12.6bn) in 1H26, up 19% year on year, with a return...