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Russia's Sberbank reports profit rise to $4.3 billion in 1st quarter

MOSCOW (Reuters) -Russia's dominant lender Sberbank on Friday reported an 11.3% increase in first-quarter net profit to 397.4 billion roubles ($4.32 billion) and sharply raised its retail loan growth forecast for the year. Sberbank made record profits of 1.5 trillion roubles in 2023, a more than five-fold increase on the previous year, as Russia's banking sector recovered from the impact of financial sanctions over Russia's actions in Ukraine. The state-owned bank, which dominates Russia's banking sector with around 110 million retail clients, this week announced plans to make a record annual dividend payment of more than $8 billion.

Moscow , Moskva , Russia , Ukraine , German-gref , Tomasz-janowski , Jason-neely , Sberbank , Alexander-marrow , Ussia , Etail-lending , Etail-clients

Analysis-Swiss banking plan leaves 'relieved' UBS out of immediate firing line

UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law. Shares in the Zurich-based lender took a knock on Wednesday after the finance ministry said its "too big to fail" recommendations envisaged tougher capital requirements for UBS and other systemically important banks following the rescue of its stricken rival Credit Suisse in 2023. "The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats (SP), the second-biggest party in the Swiss parliament.

Bern , Switzerland , Zurich , Züsz , Swiss , Cedric-wermuth , Stefania-spezzati , Noele-illien , Oliver-hirt , John-revill , Peterv-kunz , Peter-graff

Exclusive Interview: "Next 3-6 months will tell us how the entire business with Paytm pans out," says Amitabh Chaudhry

Chaudhury said the RBI’s unhappiness with the rising exposure of banks to NBFCs arises from the fact that, in some cases, lending through fintechs or NBFCs happens without banks taking ownership

India , Subramanian-swamy , Amitabh-chaudhry , Axis-bank , Citibank , Google , Triumph , Airtel-payments-bank , Managing-director , Chief-executive-officer-amitabh-chaudhry , Google-play , Siddhi-app

20 Highest Paying Countries for Bankers

In this article, we will look at the 20 highest paying countries for bankers. We have also discussed the global financial services market along with the developments in the banking sector in the US. If you want to skip our detailed analysis, head straight to the 5 Highest Paying Countries for Bankers. The global financial […]

Dublin , Ireland , Italy , United-arab-emirates , Vienna , Wien , Austria , Belgium , Spain , Brussels , Bruxelles-capitale , Norway

13 Best Bank Stocks To Invest In For Long-Term

In this piece, we will take a look at the 13 best bank stocks to invest in for long term. If you want to skip our coverage of the banking industry and how it started to trouble investors once again this year, you can take a look at 5 Best Bank Stocks To Invest In […]

North-carolina , United-states , Texas , Brazil , Tennessee , Israel , Connecticut , California , America , American , Brazilian , Warren-buffett-berkshire-hathaway

Weekly Market Wrap: Nifty regains 22K amid strong macros. What lies ahead?

Indian equity markets ended the week on a high note with the frontline indices garnering over a percent amid strong macro-economic data. 

China , India , Bharat , Vinod-nair , Head-of-research-at-geojit-financial-services , Grasim-industries , Bharat-petroleum-corporation , Bajaj-auto-industries , Oil-gas , Mahindra , Hindalco-industries , Wipro

Meet the man who single-handedly destroyed NAB's reputation

After slashing National Australia Bank's regional branches by a third, CEO Ross McEwan is bailing before a senate inquiry into the closure reports.

Warren-shire , New-south-wales , Australia , United-kingdom , Goulburn , Junee , Tasmania , Gippsland , Victoria , Maffra , Gilgandra , Wellington