ISTANBUL

Sberbank, Russia's largest bank, on Tuesday said its net income rose by 15.5% in January year-on-year.

The bank's net income reached 132.9 billion rubles ($1.4 billion) in January.


The net interest income of the bank also increased 9.4% in January compared to the same month in 2024, reaching $2.4 billion.

Meanwhile, net fee and commission income grew by 2.6% in the same period, totaling $518.6 million.

The bank's return to equity amounted to 22.2% in January.

"Regulatory constraints and elevated interest rates have contributed to a seasonal slowdown in business activity at the start of the year, leading to a decline in corporate and retail loan portfolios by 0.5% in real terms," the statement said.

In 2024, Sberbank reported record profit of $16.18 billion.