VTB Director Andrei Kostin admitted that the growth of banking income in 2024 will decrease. The anti-inflationary measures adopted by the Central Bank will affect the volume of net profit. Previously, the regulator predicted that by the end of 2023 the profit of the Russian banking sector would amount to 3 trillion rubles.
The growth of income in the banking sector in 2024 will decrease compared to 2023. This was announced by the head of VTB, Andrei Kostin, during a meeting with Vladimir Putin; His words are quoted in a message posted on the Kremlin website.
According to Kostin, the net profit of Russian banks will be affected by the anti-inflationary measures adopted by the Central Bank, including the increase in the official interest rate and restrictions in the sphere of lending.
The net profit of Russian banks at the end of 2023 will reach 3 trillion rubles, Vice President of the Bank of Russia Olga Polyakova previously stated.
Author:
Kirill Bilyk
Source: RB
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