The Central Bank expects the profit of Russian banks in 2023 in the amount of more than 1 trillion rubles
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The Central Bank expects that the profit of the banking sector in 2023 will be more than 1 trillion rubles. This was announced by the director of the department of banking regulation and analytics of the Central Bank Alexander Danilov. According to him, the forecast will come true if there are no unexpected shocks. In 2022, the profit of Russian banks amounted to 203 billion rubles
“You should always make reservations with forecasts. If there are no unforeseen new shocks, the result will be much better than last year. I think that the profit will be higher than 1 trillion rubles,” said Alexander Danilov during a press conference (quoted by TASS).
Alexander Danilov stressed that Russian banks avoided a negative result in 2022 thanks to the Central Bank’s easing. They were used by about a third of credit institutions. Also, Mr. Danilov noted that several banks will need further capitalization. In 2022, some credit institutions, according to him, were recapitalized by 92 billion rubles.
From “Overview on the Development of the Banking Sector” The Central Bank follows that the profit of Russian banks in 2022 amounted to 203 billion rubles. In 2021, it amounted to 2.4 trillion rubles. As noted in the Bank of Russia, losses in the first half of 2022 exceeded 1.5 trillion rubles. Credit organizations were able to compensate them in the second half of the year. In December, the monthly profit reached 342 billion rubles.
Among the indulgences that the Bank of Russia introduced after the start of the special operation, the regulator allowed to postpone the formation of reserves for possible losses on blocked assets, allowed not to comply with the limits of open currency positions, allowed fixing the exchange rate and value of securities on balance sheets, based on the previous levels of assigned ratings. From 2023, the Central Bank will cancel these concessions.
On the main areas of work of the Central Bank in 2023 – in the publication “Kommersant” “The Central Bank has marked the way for banks”.
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