The Central Bank does not expect the profitability of the banking sector until the end of 2022

Russian banks reduced their losses in the first half of the year to 1.5 trillion rubles, said Alexander Danilov, director of the banking regulation and analytics department of the Central Bank (CB). Nevertheless, according to him, banks are unlikely to be able to make a profit at the end of the year.

“We have, as you know, the result of the banking sector for the first half of the year is negative. We called 1.5 trillion – it has declined quite decently since then, but, nevertheless, we are unlikely to make a profit in a year, ”said Mr. Danilov during a conference of the Association of Russian Banks (quoted by RIA Novosti).

In March, the Central Bank allowed Russian banks not to publish financial statements. The regulator said that it took this measure to limit the risks of credit institutions associated with the imposed sanctions.

In November, some Russian banks began to return to the disclosure of financial indicators. Sberbank, in particular, announced its profit and promised to publish reports on a monthly basis. CB intends disclose the financial results of banks at the end of the year.

Details – in the publication “Kommersant” “Sberbank showed a profit”.

Laura Keffer