Net profit of Russian banks reaching $21.5 bln in July – Central Bank
According to the Central Bank, banks earned 327 billion rubles in July.
The net profit of Russian banks climbed to two trillion rubles ($21.5 bln) in January - July 2023, the Central Bank reported.
"The net profit of the sector in July stood at 327 bln rubles ($3.5 bln) (the return on capital was around 30% in annual terms), which is generally in line with the result in June (314 bln rubles). The sector earned two trillion rubles from the year start," the regulator noted.
A significant driver for banks’ profit in July was revenues from foreign currency revaluation amid ruble rate weakening and remaining long currency position of some banks.
The number of profitable banks in July climbed to 265 (82% of the total number), compared to 245 in June (75%)," the Central Bank noted.
Source
The net profit of Russian banks climbed to two trillion rubles ($21.5 bln) in January - July 2023, the Central Bank reported.
"The net profit of the sector in July stood at 327 bln rubles ($3.5 bln) (the return on capital was around 30% in annual terms), which is generally in line with the result in June (314 bln rubles). The sector earned two trillion rubles from the year start," the regulator noted.
A significant driver for banks’ profit in July was revenues from foreign currency revaluation amid ruble rate weakening and remaining long currency position of some banks.
The number of profitable banks in July climbed to 265 (82% of the total number), compared to 245 in June (75%)," the Central Bank noted.
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