Central bank expects record banking 2023 profit of 3.2–3.4 tln rbl

MOSCOW, Dec 7 (PRIME) -- The banking sector’s profit will hit a record of 3.2–3.4 trillion rubles in 2023, the central bank said in a statement on Thursday.

“In the first nine months of 2023, the banks made 2.7 trillion rubles, while this year the net profit is expected to stand at around 3.3 trillion rubles,” the statement read.

But the compound return will be lower because the banks reflected some of the losses from revaluation of securities, or 400 billion rubles in January–October, in their capital, the authority said.

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