Cbank: Russian banks’ net profit grows 14% to 293 bln rbl in Feb

MOSCOW, Mar 22 (PRIME) -- The combined net profit of Russian banks increased by 14% on the month to 293 billion rubles in February, the central bank said in a research note late on Tuesday.

"In February, the sector’s net profit amounted to 293 billion rubles with a year-on-year return on capital of over 29%, which is a 14% rise on the month," the regulator said.

The central bank attributed the increase to positive currency revaluation on the back of the ruble weakening, which amounted to 140 billion rubles.

In January–February, the sector’s net profit amounted to 551 billion rubles, or around 440 billion rubles excluding currency revaluation.

The number of banks that had a profit fell to 246, or 94% of the total, in February from 263, or 98% of the total, in January.

Russian banks’ retail deposits grew by 2% on the month, while corporate deposits increased by 1.1% in February, the central bank said.

The corporate loan portfolio of Russian banks increased by 1.5% on the month, and the retail loan portfolio rose by 1%, the regulator said.

Mortgage lending growth accelerated to 1.5% in February from 0.6% seen in January.

(76.8373 rubles – U.S. $1)

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