Net profit of Russian banks decreased to 440 billion rubles in August
Russian banks received in August 440 billion rubles. net profit is 3 billion rubles less than the result of July. Return on capital remained at the level of July and amounted to 24% in annual terms, follows from the review of the Bank of Russia.
Russian banks received in August 440 billion rubles. net profit is 3 billion rubles less than the result of July. Return on capital remained at the level of July and amounted to 24% in annual terms, follows from the review of the Bank of Russia.
The total financial result of the banking sector amounted to 436 billion rubles in August against 422 billion rubles in July. The indicator was lower than profit due to a negative revaluation of securities in the capital. Return on capital amounted to 23.6% (-0.05 p.p.). Non-core (volatile) revenues increased by 43% due to dividends from subsidiaries. The share of profitable banks rose from 94% in July to 99% in August. The number of banks that suffered a loss in August was 69.
The main profit of the sector decreased by 4% to 425 billion rubles. This was affected by the fact that banks increased the cost of reserves to 213 billion rubles (+ 27%) for the month, of which 63 billion rubles for the corporate portfolio. This is due to the “normalization of deductions after a low figure in July”, when banks restored reserves for individual companies, the Central Bank explained. The main profit indicator was also affected by a reduction in operating expenses by 20 billion rubles (-5%).
