Russia’s Banking Sector Makes 2.5 More Profit in January-February

UrBC, Moscow, March 18, 2019. Russia’s banking sector’s profits amounted to RUB 445 billion in January and February 2019 compared with RUB 178 billion in the first two months of 2018, the Central Bank of Russia’s review of the banking sector of the Russian Federation in January and February 2019 (available on the bank’s website) indicates.

According to the CBR, profit-making banks continue to make up the majority of the banking sector’s players, with 350 banks making RUB 481 billion in accumulated profits in the first two months of the year; this amounts to 73% of all the banks operating in Russia as of March 1, 2019. 116 banks incurred RUB 36 billion in losses; this amounts to 24% of the banks operating in Russia as of the beginning of the month. The banking sector’s ROA rose from 1.5% in early January to 1.8% by March 1.


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