S&P sees Russian banks profit at $20–25 bln in 2019

MOSCOW, Apr 10 (PRIME) -- The net profit of the Russian banking sector will amount to U.S. $20–25 billion in 2019, international rating agency S&P said in a report Wednesday.

Under the current ruble rate, the forecast stands at 1.3–1.6 trillion rubles. In 2018, the net profit of the Russian banking sector grew around 70% to 1.34 trillion rubles.

Volatile interest rates and competition will continue to curb growth of Russian banks’ profit, S&P experts said.

Experts also project that corporate lending will increase 10% in 2019, while retail lending will grow 15–17% after rising 22% in 2018.

(64.7766 rubles – U.S. $1)

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