ACRA experts predicted bank profit in 2023 to exceed RUB 2.6 trillion.
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The profit of the banking sector in 2023 will reach record levels and exceed 2.6 trillion rubles, according to experts from the Analytical Credit Rating Agency (ACRA). The agency’s research is at the disposal of Kommersant.
According to experts, by the end of the first half of the year, interest and commission income in Russian banks increased significantly, while part of the income was formed by profit from foreign exchange transactions. At the same time, credit institutions continue to increase provisions for credit losses.
How informed Central Bank, the profit of Russian banks for the first half of the year amounted to 1.7 trillion rubles, which was an absolute record. This is higher than the profit of credit institutions for the whole of 2020 (1.6 trillion rubles), and in proportion to the profit for 2019 (1.7 trillion rubles). The last record for annual profit was set in 2021 – 2.36 trillion rubles.
As Kommersant noted, despite the overall growth in banking sector profits in July, many large credit institutions worsened their results. So, the profit of Alfa-Bank fell by almost 17 times, and VTB – by 19.
More details – in the material “Kommersant” “The big banks didn’t make a profit.”
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