An economic slowdown, losses in Ukraine and a weaker ruble reduced third-quarter profits by 24 percent at Sberbank, Russia's biggest bank, as provisions for loan losses more than doubled. Russia's economy is showing signs of strain as Western sanctions over the Ukraine crisis and tumbling oil prices depress growth and many of its major banks are also nursing losses from their Ukrainian subsidiaries.
Russia's War Against Ukraine
Reuters: Profits at Russia’s biggest bank Sberbank fall one-quarter as economy stumbles
People wait in front of a closed bank on Nov. 26, 2014 in the eastern Ukrainian city of Donetsk.
