Russia’s Biggest Bank Announces Huge 2022 Fall in Profits
Russia’s Sberbank on Thursday announced its net profit dropped nearly 80% in 2022, a year marked by unprecedented Western sanctions on Moscow over its invasion of Ukraine. The group published a net profit of 270.5 billion rubles ($3.56 billion) last year, a 78.3% decrease compared to 2021. “2022 has been an extremely difficult year for…