Browsing: Russia

More of Russia’s super-rich are keeping their money at home, driving “unprecedented” growth in the private banking sector, new research shows. The number of high-net-worth individuals (HNWI) holding assets worth over 100 million rubles (roughly $1 million) in Russian banks jumped by 50% last year compared to 2022, leading banking consultancy Frank RG reported on Tuesday.

The economy expanded in the first quarter despite Western sanctions, according to the national statistics service