The Central Bank reported profits for the first time since 2017 – Kommersant

Bank of Russia for the first time in seven years reported about profit: in 2023 its size amounted to 140.4 billion rubles. The bank’s income last year amounted to 859.3 billion rubles. (in 2022 – 541 billion rubles). Expenses at the end of 2023 amounted to 718.9 billion rubles. (in the previous year – 1.3 trillion rubles).

The Central Bank’s report notes that the main factor in generating profit in 2023 was the “positive revaluation” of securities, which were subject to a “negative revaluation” in 2022. Income was generated primarily from interest income in the amount of RUB 668.9 billion, as well as from net income from transactions with securities, foreign currency and precious metals – RUB 161.2 billion. The amount of expenses amounted to interest expenses in the amount of RUB 436.9 billion. and expenses for maintaining Central Bank employees in the amount of 151.2 billion rubles.

The report states that the annual balance sheet indicators and financial results of the regulator in 2023 were formed “in the context of the recovery of business and consumer activity.” At the same time, the Central Bank notes that the financial results were influenced by sanctions pressure, the weakening of the ruble and the tightening of monetary policy. All this, as stated in the report, led to an increase in the volume of assets in foreign currency and precious metals: they grew by 30.3%, to 50.9 trillion rubles. The regulator’s total assets increased to 61.5 trillion rubles. (in 2022 – 47.2 trillion rubles).

Since 2017, the Bank of Russia has been unprofitable for six years. In 2022, the loss amounted to 721.7 billion rubles, in 2021 – 26.3 billion rubles. , in 2020 – 61.5 billion rubles, in 2019 – 182.6 billion rubles, in 2018 – 434.7 billion rubles. According to the law, the profit received by the Bank of Russia is transferred to the federal budget in the amount of 75% of the funds remaining after taxes. The remaining profit covers losses resulting from the activities of the Central Bank in previous periods. In 2023, the Central Bank will transfer 105.3 billion rubles to the federal budget, 17.5 billion rubles to cover losses, and 1.4 billion and 16.1 billion rubles to the social and reserve funds. respectively.