Central Bank: the loss of Russian banks for the first half of 2022 amounted to 1.5 trillion rubles.

In the first half of 2022, the losses of the Russian banking sector reached 1.5 trillion rubles, said Dmitry Tulin, First Deputy Chairman of the Board of the Central Bank RBC. According to him, the banks cost “little blood.”

This is the first disclosure of information about the consequences of the crisis for banks. The Central Bank last published data on the net profit of banks in January. Then it was 164 billion rubles. In March, the Central Bank allowed Russian banks to classify their financial statements.

According to Dmitry Tulin, one quarter of operating banks in the first half of 2022 turned out to be unprofitable (about 82 banks out of 329 operating as of June 1). Most of them are large credit institutions.

According to the first deputy chairman of the Central Bank, in June 1 trillion rubles. loss (6.67%) was brought by operations related to foreign currency. “We are talking about losses on transactions with derivative financial instruments. The volatility of the exchange rate was huge, at first the ruble fell, and then wringed out – the rate was 110, and then it became 55. It so happened that losses on derivative financial instruments were recorded at a low ruble exchange rate, ”he said.

Secondly, the financial result was affected by the negative revaluation of open currency positions. According to the first deputy chairman of the Central Bank, banks that are engaged in international operations cannot quickly close their open balance sheet position on currency risk. “Accordingly, the exchange rate changes, and the financial result changes due to the effect of currency revaluation. Some banks have skewed their position in a direction that is unsuccessful from the point of view of market conditions. They lost first on the weakening of the ruble, and then they lost again on its strengthening, ”he said.

At the same time, Dmitry Tulin believes that the banks cost “little blood.” He said that in 2021 the sector showed a record net profit of 2.4 trillion rubles, in addition, banks have capital reserves. As of January 1, the Central Bank estimated it at 7 trillion rubles.

Anastasia Larina