The Russian Central Bank reported that the net profit of the Russian banking sector rose to 1.7 trillion rubles (approximately $19 billion) in the first half of the year, reaching the highest level in history.
In the written statement made by the Central Bank of Russia, evaluations regarding the banking sector in the country were included.
In the statement made by the Central Bank of Russia, it was noted that the net profit of the Russian banking sector in the first half of the year reached the highest level in its history with 1.7 trillion rubles (approximately $ 19 billion).
It was stated in the statement that the net profit of the Russian banking sector increased by 15 percent to 314 billion rubles in June compared to the previous month, and the net profit of the sector in the first half of the year rose to 1.7 trillion rubles, breaking a record.
In the statement, it was reminded that the sector’s annual net profit in 2021 broke a record with 2.4 trillion rubles, while it was noted that 2023 net profit is expected to converge or exceed the said level.
While the Russian banking sector closed 2022 with a loss of 1.5 trillion rubles due to the sanctions, foreign currency assets and liabilities on the balance sheets of banks started to grow in ruble terms this year due to the depreciation of the ruble.