Russia’s largest majority state-owned banks, Sberbank and VTB, have once again come in first and second place, respectively, among the top 25 banks by Tier 1 capital table for central and eastern Europe (CEE) – positions they both have held for well over a decade. Sberbank improved its Tier 1 capital base by almost 8%, to $78.63bn, while VTB’s Tier 1 decreased by 12% to $21.77bn.
Sanctions imposed against Russian banks saw most of the country’s leading lenders’ profitability impacted in 2022, with VTB posting a $11.3bn loss in 2022 and Sberbank seeing its profits shrink by 71.4%.
