Russian banks’ profit in June rises by one third, reaching $5 bln
Overall, banks earned $21.7 bln in the first half of the year, matching the result for the same period in 2024.
Russian banks’ profit in June rose by one third compared to May, reaching 392 bln rubles ($ bln), according to materials published by the Bank of Russia.
Overall, banks earned 1.7 trillion rubles ($21.7 bln) in the first half of the year, matching the result for the same period in 2024.
"The sector’s profit amounted to 392 bln rubles (net of dividends from Russian subsidiary banks), which is one third higher than the figure for May. The profit increase is mainly attributable to a significant one-off recovery of provisions on other claims. Additionally, banks recognized part of a positive revaluation of OFZ bonds in their profits, and some credit institutions received dividends from subsidiary financial companies," the statement said.
According to the Bank of Russia, 78 banks were unprofitable in June, compared to 73 a month earlier.
Source
Russian banks’ profit in June rose by one third compared to May, reaching 392 bln rubles ($ bln), according to materials published by the Bank of Russia.
Overall, banks earned 1.7 trillion rubles ($21.7 bln) in the first half of the year, matching the result for the same period in 2024.
"The sector’s profit amounted to 392 bln rubles (net of dividends from Russian subsidiary banks), which is one third higher than the figure for May. The profit increase is mainly attributable to a significant one-off recovery of provisions on other claims. Additionally, banks recognized part of a positive revaluation of OFZ bonds in their profits, and some credit institutions received dividends from subsidiary financial companies," the statement said.
According to the Bank of Russia, 78 banks were unprofitable in June, compared to 73 a month earlier.
Source