MOSCOW": Russian banks earned 448 bln rubles ($5.8 bln) in March, which is 14.2% higher than in February, the Central Bank reported. ...
MOSCOW": Russian banks earned 448 bln rubles ($5.8 bln) in March, which is 14.2% higher than in February, the Central Bank reported.
"The sector’s net profit in March increased to 448 bln rubles (+56 bln rubles, +14% compared to February). The annualized return on equity roughly stood at 25% (around 23% in the previous month). Growth of profits was driven by non-core (volatile) income of banks: it increased to 202 bln rubles (+84 bln rubles, +70% compared to February), primarily due to revaluation of debt securities," the report said.
Core profit of the banking sector (343 bln rubles) was almost flat, the regulator said, adding that banks’ revenue from key operations (net interest and fees) grew by 136 bln rubles (+16%) due to business expansion and increased transaction activity.
Meanwhile transfers to reserves increased significantly - by 100 bln rubles (+74%), primarily in the retail segment, which restrained overall profit growth.
-News Feeed
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