Russia's Sberbank targets record profits, warns of slowing consumption

Thu, September 3, 2026 at 3:57 AM UTC

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VLADIVOSTOK, Russia, Sept 3 (Reuters) - Sberbank, Russia's biggest bank, expects net profit this year to be higher than 2025 and to hit a record high in 2027, Chief Executive German Gref said, but warned that signs of declining consumption in the country are worrying.

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Speaking at a forum in the Russian Pacific port city of Vladivostok, Gref, a long-standing leader of Sberbank, said that inflation in Russia was accelerating which he mostly attributed to the loss of some oil refining capacity amid Ukraine's attacks.

(Reporting by Olesya Astakhova and Vladimir Soldatkin in Vladivostok;Writing by Jekaterīna Golubkova in Tokyo; Editing by Jacqueline Wong)

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