Raiffeisenbank received almost 93 billion rubles in 9 months. net profit

Raiffeisenbank received almost 92.9 billion rubles in the nine months of 2023. net profit according to RAS, follows from the statements (.pdf) credit institution. The bank’s assets as of September 30 amounted to 2.292 trillion rubles, having increased by 9.6% since January of this year.

Bank client funds during the reporting period increased by 3.4%, to RUB 1.652 trillion. The bank’s own funds as of September 30 reached 394.7 billion rubles, showing an increase of 29.3% since the beginning of the year. The loan portfolio after deducting provisions increased by 9.5%, to RUB 1.350 trillion.

In March, the European Central Bank (ECB) demanded from the Austrian banking group Raiffeisen Bank to close its business in Russia. Raiffeisen Bank statedwhich is exploring options for the future of its Russian “daughter”, but in the end moved separation of Russian business at the end of the year. Since August Raiffeisenbank suspended acceptance and purchase of cash dollars and euros from individuals. In October the bank stopped acceptance of rubles into foreign currency accounts through cash desks, and from November limited geography of transfers in the amount of more than €30 thousand monthly.

In 2022, the Russian banking sector, against the backdrop of sanctions, made a profit of 203 billion rubles. In 2021, Russian banks earned 2.4 trillion rubles. At the end of 2023, the Central Bank expects the profit of Russian banks to be at the level of 2.9–3 trillion rubles.

About the situation in the banking sector – in the material “Banks are holding deposits”.

Laura Keffer