CORRECT: Cbanker: Russian banks’ net profit at 537 bln rbl in Jan–Aug

(Specifies in sixth paragraph that deposits fell 0.3% adjusted for ruble revaluation)

SOCHI, Sep 8 (PRIME) -- The combined net profit of Russian banks amounted to 537 billion rubles in January–August and it is expected to exceed 700 billion rubles overall in 2016, Deputy Central Bank Chairman Mikhail Sukhov said on the sidelines of a banking forum on Thursday.

He said that the January–August net profit exceeded the central bank’s earlier forecast, which stood at 500 billion rubles.

Retail lending declined 0.7% on the year and grew 0.7% on the month in January–August, and overdue loans stabilized at 8.6% over the period, the official said.

“Banks have learnt to be stricter to the financial state of borrowers lately, we expect that overdue debt, at least for the new loans, will be less at least for the nearest future,” Sukhov said.

Corporate loans in rubles decreased by 0.9% in August, Sukhov said.

Household deposits grew 0.5% in August. The deposits in foreign currency rose 0.4% and in rubles 0.5%. Adjusted for the ruble revaluation retail deposits fell 0.3%, Sukhov said.

He also said that the central bank has retained a deposit growth forecast for 2016 at 10–15%.

(64.3804 rubles – U.S. $1)

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