Sber bank has maintained high financial performance and consumer confidence despite pressure on the Russian economy
A participant walks past banners with the logo of Sber (Sberbank) during the 2022 Eastern Economic Forum (EEF) in Vladivostok, Russia. © Sputnik / Alexandr Kryazhev
Russian state-run bank Sber (formerly Sberbank) retained its position as one of the world’s strongest financial institutions in 2022 and was the most valuable brand in Russia, according to the annual Brand Finance Global 500 ratings.
Despite being a target of Western sanctions, Sber retained its position among the 200 most valuable global brands, taking 163rd place, and was ranked 16th in the world’s strongest brands ratings.
According to Brand Finance, even in the current situation, the Russian lender keeps showing strong financial results and maintains customer confidence, which has allowed it to remain among the most valuable global brands.
The Russian banking and technology giant, which has a customer base of more than 100 million people, is continuing to develop a digital ecosystem for its variety of services that go beyond banking, and include e-commerce and logistics, as well as telehealth and streaming.
READ MORE: Russia’s biggest bank to open in Crimea
Last year, Sber was named as the strongest brand in Europe across all industries, overtaking Ferrari in the brand strength classification of the Brand Finance Global 500 ranking.
For more stories on economy & finance visit RT’s business section
