Cbanker expects net profit of banks above 1.5–1.7 tln rbl in 2021

MOSCOW, Jun 16 (PRIME) -- The net profit of the Russian banking sector may exceed the forecast of 1.5–1.7 trillion rubles in 2021, Alexander Danilov, head of the central bank’s banking oversight department, told reporters on Wednesday.

In 2020, the net profit of Russian banks fell by 6% on the year to 1.6 trillion rubles. Danilov said in April 2021 that the regulator expected the net profit to amount to 1.5–1.7 trillion rubles.

“Our profit forecast ranged between 1.5 and 1.7 (trillion rubles), but I would like to say that there is a possibility that the forecast will exceed it judging by the development we see now,” he said.

The central bank also expects mortgage lending by banks to rise by 20% this year.

“The general dynamics in the second quarter will be better than the first, and will depend on how the (government’s cheap mortgage loan) program is adjusted. It is possible that the dynamics will slow down. In any case, we will see (an increase of) around 20% in the year, but this estimate is preliminary,” he said.

(71.8318 rubles – U.S. $1)

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