11 Nov 2022 14:19

CBR to start publishing banking sector financial result for year

MOSCOW. Nov 11 (Interfax) - The Central Bank of Russia plans to return to publishing the banking sector's performance based on results for 2022, Alexander Danilov, head of the CBR's Banking Regulation and Analytics Department, said.

"We will probably move towards the more complete disclosure [of information about Russian banking sector development]," he told reporters on the sidelines of the Finopolis forum.

"We'll certainly see [the CBR disclose the sector's financial result] for the year. As for the 10 months, we'll see," he said.

According to Danilov, the Central Bank wants to make the disclosure of statements to RAS mandatory for banks. The publication of IFRS statements will remain at the discretion of lenders.

The Central Bank also plans to resume monthly publication of the turnover statement for the ledger accounts of banks (form 101), but in aggregated form rather than with the previous detailed breakdown.

"It will be quite informative. It is clear that maybe there won't be some savory details about residents and non-residents, but these are just the kind of things that can contribute to sanctions risks, so we are still in favor of some kind of balance," Danilov said.

"There will most likely be some exemptions in terms of sensitive information, where there are sanctions risks, but in general disclosure will be enough for everyone to understand what is happening and be able to form an opinion about financial stability," he said.