Sberbank plans to earn more in 2024 than in 2023

MOSCOW. Dec 7 (Interfax) - Sberbank expects profits in 2024 to exceed the results of 2023, President and Chairman of the Board Herman Gref said.

"Of course, we compare 2023 with 2022, which was probably one of the most difficult years in history for the banking sector. Moreover, in this sense, 2023 will be much more successful for banks. In our forecasts, we believe that next year, we will be able to earn more than this year," Gref said in an interview with Naila Asker-Zade during the Vesti program on the Russia 1 television channel.

Sberbank plans to earn a record net profit in 2023. For the first nine months of 2023, the bank earned IFRS 1.149 trillion rubles of net profit. Based on these results, the bank raised its return on equity forecast for the current year from "above 22%" to "above 24%."

Sberbank's IFRS net profit in 2022 decreased to 270.5 billion rubles from a record 1.246 trillion rubles in 2021.