Banking sector profits will reach 2.8 trillion rubles in 2024 – Kommersant
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The Central Bank expects that the profit of Russian banks in 2024 could range from 2.3 trillion to 2.8 trillion rubles, said the head of the regulator, Elvira Nabiullina. According to her, the forecasts are related to the stabilization of the banking sector and a gradual increase in profits.
“The banking sector has largely recovered after the crisis of 2022, banks have significantly increased their business, reached record lending rates and showed high profits. This, by the way, makes it easier to get out of regulatory relaxations. We expect that this year banks will continue to contribute to the development of the economy and remain profitable,” Ms. Nabiullina said at a meeting with the management of the Central Bank (quoted by TASS).
Net profit of the Russian banking sector at the end of 2023 amounted to record 3.3 trillion rubles. The Central Bank’s review stated that the indicator was due to business growth, income from foreign exchange revaluation and a decrease in the cost of risks. The number of profitable banks in December fell to 219. This represents 68% of their total number.
The growth leader was Gazprombank, whose profit increased 19.6 times, to 178.4 billion rubles. Sovcombank’s profit increased 6.9 times, to 97.9 billion rubles, and that of Sberbank – 5 times, to 1.5 trillion rubles. for MKB – 4.9 times, to 42.9 billion rubles.
Read more about the situation in the Kommersant publication. “Profits have increased for the future”.
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