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Business & Finance

Russia's Sberbank lowers 2021 cost of risk forecast

  • Sberbank, which reported a 153% year-on-year growth in first-quarter profit, said it expects revenue from its non-financial businesses to exceed 200 billion roubles ($2.68 billion) this year.
Published April 29, 2021
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MOSCOW: Russia's largest lender Sberbank has lowered its 2021 cost of risk forecast to 100 basis points from a previously expected 120-140 basis points, the bank said in a presentation on Thursday.

Sberbank, which reported a 153% year-on-year growth in first-quarter profit, said it expects revenue from its non-financial businesses to exceed 200 billion roubles ($2.68 billion) this year.

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