Russian banks will make between 3.3 and 3.8 trillion rubles of profits until the end of 2024. This was stated by the Vice President of the Bank of Russia, Olga Polyakova, within the framework of the International Banking Forum, writes Prime.
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The regulator has already raised its forecast for the banking sector’s financial results for this year several times. Initially, last year, expectations were at the level of 1.8 to 2.3 trillion rubles. However, already in the first quarter the forecast was adjusted to 3.1-3.6 trillion rubles. In mid-September it was increased again to 3.3-3.8 trillion rubles.
Polyakova confirmed the relevance of the latest forecast with a short answer: “Yes.”
“Corporate business growth remains above expectations at the beginning of the year, which, together with its current high quality, allows banks to maintain the pace of profit growth in the first half of the year. If no new shocks occur, the net profit of the sector could amount to 3.8 trillion rubles,” the Central Bank noted.
At the end of 2023, the Russian banking sector made a net profit of 3 trillion rubles. In November this figure amounted to 2.7 trillion rubles, but experts predicted a decline in profit growth in the final months of the year.
Cover photo: Andrey Sayfutdinov /
Author:
Nikolai Tikhonov
Source: RB
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