Sberbank took the lead among banks of Russia, Central and Eastern Europe on the list of the largest banks of the world according to The Banker magazine. Sberbank moved 15 positions up compared to the previous year overall and ranked 36.
The Banker is the leading international magazine about banking business. The Top 1,000 World Banks list is compiled on an annual basis and includes one thousand largest banks of the world by Tier 1 capital. Sberbank’s Tier 1 capital grew 47% last year.
Russian banks alongside Brazilian and Indian banks have considerably improved their positions on the list compared to the previous year. According to the data provided by the Banker, the total profits of Russian banks increased more than 4.5-fold (by 369%) to $14.6 billion in 2016.