Russia’s largest bank Sberbank increased its net profit by 18.6% in the first six months of 2026 compared to the same period last year. The bank’s net profit exceeded 1 trillion 19 billion rubles (approximately $13 billion).
In the second quarter, net profit came in at 511.2 billion rubles, marking a 20.9% increase from the same quarter of 2025.
In a statement on Sberbank’s financial performance, net interest income rose 22.5% in the January-June period to 2.051 trillion rubles. The second-quarter net interest income increase was 26.7%. Net fee and commission income also grew 5.4% in the first half and 10.4% in the second quarter.
However, the bank revised its forecasts due to economic conditions. The growth forecast for the corporate deposit market was lowered from a range of 10-12% to 5-8%.
Sberbank Deputy Chairman and Finance Director Taras Skvortsov pointed to the slowdown in the Russian economy and expectations that tight monetary policy will continue until year-end. Skvortsov explained that for this reason they also lowered the corporate loan market growth forecast from 10-12% to a range of 8-10%.
Skvortsov said, “We see that the budget is being implemented with a large deficit, so the funds deployed by the government are declining. Corporate funds also grew very slowly, only 1.6% over the same period. Therefore, we have significantly adjusted our forecast for the legal entities’ funds market for the end of 2026 and expect a slowdown in growth.”