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HomeLatest NewsRussian banks in January increased their net profit by 1.5 times KXan...

Russian banks in January increased their net profit by 1.5 times KXan 36 Daily News

Date: April 22, 2024 Time: 05:33:00

The number of profitable banks in January 2023 increased to 263 from 222 the previous year. Banks provided the main profit at the expense of income from their main activities.

Net interest and fee income increased 26% and 16%, respectively, compared to January 2022. Credit risks were approximately 1%, below the historical average of 2%.

Of the negative trends, the capital balance of the sector in January fell by 77 billion rubles. compared to December 2022, which amounts to 12 trillion rubles. This was facilitated by a decrease in retained earnings from prior years and changes in subordinated loan accounting. Without them, the balance sheet capital could increase by 100 billion rubles.

As of February 2022, the disclosure of monthly bank earnings has been discontinued. For the first time since the suspension, the Bank of Russia published data on the state of the banking sector in December.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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