Cbank: Russian banks’ net profit rises 7% to 216 bln rbl in May

MOSCOW, Jun 21 (PRIME) -- The combined net profit of Russian banks rose 7% on the month to 216 billion rubles in May, the central bank said on Monday.

In January–May, the net profit of Russian banks almost reached 1 trillion rubles, the regulator said.

The number of profitable banks rose to 234 from 221.

Russian banks raised corporate lending by 1.1% on the month in May, while retail lending increased by 2.2%.

Corporate deposits with Russian banks grew by 2.4% in the period, while retail deposits fell by 1.5%.

The net profit of Russian banks will likely exceed the central bank’s previous forecast of 1.5–1.7 trillion rubles in 2021 and will be around 2 trillion rubles, the regulator said.

(72.2216 rubles – U.S. $1)

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