Russia’s Sberbank makes record $16bn profit in 2023

Russia’s largest state-controlled bank Sberbank (Sber) posted 5.5-fold year-on-year net IFRS profit jump to a record-high of RUB1.5 trillion ($16.3bn) and made a return on equity (ROE) of 25.3%. Compared to 2021, prior to the full-scale military invasi…