Russia's largest banks cut more than 22,000 jobs in 2025
In 2025, Russia’s largest banking groups cut their workforce by more than 22,000 employees, reducing the total number of staff to 557,000.
This was reported by Kommersant.
According to the publication, layoffs occurred at 14 of the 20 largest banks. The majority of these layoffs took place at state-owned banks—Sberbank and VTB—where a total of about 21,500 employees were laid off.
Other institutions also saw reductions: Sovcombank laid off about 700 people, and Rosselkhozbank laid off approximately 800.
The largest reduction in staff—by nearly 40%—occurred at UniCredit Bank, which is preparing for liquidation. At Sinara Bank, the workforce was reduced by 16%, and at Raiffeisenbank—by 3.8%.
In addition, banks continue to close branches. In 2025, their number decreased by 1,700—to 22,400 offices.
After three years of unexpected economic growth, Russia is facing a sudden slowdown—war costs, inflation, and falling oil prices have begun to weigh on an economy that until recently seemed resilient to sanctions.
Consumer lending in Russia has fallen to a six-year low.
