Cbank: Russian banks’ net profit triples to 342 bln rbl December

MOSCOW, Jan 27 (PRIME) -- The combined net profit of Russian banks tripled on the year to 342 billion rubles in December, the central bank said in a research note on Friday.

In 2022, banks received a net profit of 203 billion rubles after a net loss of 1.5 trillion rubles in January–June.

"In December, banks earned a net profit of 342 billion rubles, including thanks to currency rates reassessment after weakening of the ruble," the authority said. Lower interest rates and a business activity rise in July–December also contributed.

The corporate loan portfolio of Russian banks increased by 2.1% on the month in December, and the retail loan portfolio rose by 1.3%. Mortgage lending grew about 50% to record 697 billion rubles.

In 2022, corporate lending increased by 14.3% and the retail crediting by 9.5%. Mortgage lending rose by 20.4% to more than 14 trillion rubles.

Deposits of individuals with banks grew by 7.6% on the month, while corporate deposits increased by 5.8% in December, the central bank said. In 2022, the indicators rose by 6.9% and 21% respectively.

The central bank said that the reserve of ruble and foreign currency liquidity in banks was adequate.

According to the note, some banks raised their capital by 92 billion rubles in December.

(69.1263 rubles – U.S. $1)

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