Key Points
MOSCOW: Russian banks made record profits of 3.3 trillion roubles ($36.96 billion) last year, the. central bank. said on Tuesday, driven by sharp rises in mortgage, consumer and corporate lending as the sector rebounded from a sanctions-induced slump in 2022...
Profits fell by almost 90% in 2022 as the West imposed sweeping sanctions on Russia's financial sector over Moscow's actions in Ukraine.. High net interest margins, particularly thanks to the state's burgeoning defence budget, have also aided the recovery...
, director of the central bank's banking regulation and analytics department, said banks' profits this year were seen dropping to 2.3-2.8 trillion roubles...
Banks' mortgage lending portfolio grew by a record 34.5% in 2023, the central bank said in a report, while corporate and consumer lending increased by 20.1% and 15.7% respectively...
The central bank said Russian banks had reduced their foreign currency lending by $3.1 billion in 2023, compared with a $30.2-billion decrease in 2022...
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