16 May 2018 15:46

Russian bank profits total 537 bln rubles in Jan-April

MOSCOW. May 16 (Interfax) - Russian bank earned 537 billion rubles in profits in the first four months of 2018, Central Bank of Russia (CBR) deputy chairman Olga Polyakova said at a meeting between bankers and top CBR officials.

"The growth dynamic continued in large part this year. If we look at the figures, we will see that lending to the economy is also growing overall, both lending to the corporate sector and lending to the population, and retail deposits are growing. Profit totaled 537 billion rubles in these four months," Polyakova said.

In the same period last year, Russian banks posted profits of 553 billion rubles.

In a conversation with journalists, Polyakova said that the ratio of profitable banks and loss-making banks remains the same at two thirds to one third.

"Banks made profits of 760 billion rubles in the first four months and 169 billion rubles in losses. Banks which are currently undergoing bailouts made a profit, earning around 3 billion rubles in total," Polyakova said.

The Central Bank have given a preliminary estimate of banks' profits in 2018 at 1.5 trillion rubles if not disrupted by additional provisions for bailed-out banks, the Central Bank's governor Elvira Nabiullina said in February.

Lending to the economy as a whole increased by 3.1% in the four months, with the retail portfolio growing by 5.2% and the corporate portfolio increasing by 2.3%. Retail deposits rose by 1.7% to 26.7 trillion rubles.

Corporate deposits, however, dropped by 1.2% in the four months, Poyakova said.