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MOSCOW, March 9 (Reuters) – Russia’s biggest lender Sberbank (SBER.MM) does not expect the Bank of Russia to cut rates from 7.5% this year and sees the country’s economic growth at around 0%, CEO German Gref said on Thursday.
Sberbank made a net profit of 270.5 billion roubles ($3.57 billion) in 2022, the bank said on Thursday, a 78.3% drop from the year before as sweeping Western sanctions rattled Russia’s financial sector.
Gref said the bank’s 2023 return on equity should come in at around 20%, up from 5.2% in 2022.
($1 = 75.9500 roubles)
Reporting by Elena Fabrichnaya and Alexander Marrow; Editing by Toby Chopra
Our Standards: The Thomson Reuters Trust Principles.
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