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2025-07-29 16:13:25
[Russian Federal Savings Bank's profit increased slightly in the second quarter, and high interest rates still constrained credit growth] ⑴ Russian Federal Savings Bank (Sberbank) announced on Tuesday that its net profit in the second quarter increased slightly to 422.9 billion rubles (about 5.19 billion US dollars), compared with 418.7 billion rubles in the same period last year. ⑵ The bank said that high interest rates continued to suppress the growth of consumer credit, but preferential mortgages and project financing pushed the total loan portfolio up 2.1% to 461 trillion rubles. ⑶ The Russian Central Bank cut interest rates by 200 basis points to 18% last Friday to stimulate the economy. However, the bank's semi-annual report showed that the proportion of corporate loans overdue for more than 90 days rose to 3.8%, and the overdue rate of retail loans rose to 5.3%.
