Russian Banks Experience 14% Growth in Profit from January to February

The data of Russian banks showed that the profit of the Russian banking sector grew by 14% in February compared to January.

According to the regulator: “The sector’s profit amounted to 293 billion rubles (ROE – 29% in annual terms), which is 14% more than the January result (258 billion rubles).

“In January-February 2023, the Russian banking sector received 551 billion rubles, but excluding currency revaluation, the result was about 440 billion rubles,” the Central Bank said.

The corporate loan portfolio of Russian banks increased by 1.5% in February.

The central bank said that “the main increase was due to loans to finance the current activities of companies in the transport, mainly railway, and oil and gas industries.”

Source: TASS

Related Stories

Leave a Reply