25 May 2023 15:17

CBR not ruling out raising banking sector profit forecast for 2023, so far it remains at 2 trln rubles - CBR dept head

MOSCOW. May 25 (Interfax) - The Central Bank of Russia (CBR) is not ruling out an upward revision of the banking sector profit forecast for 2023, but currently still expects the figure near 2 trillion rubles, head of the CBR's Department of Banking Regulation and Analysis Alexander Danilov said at the banking conference of the Association of Banks of Russia.

"We will soon come out with some updated forecast [on bank profits in 2023]. So far the guidance is in the region of 2 trillion rubles," Danilov said.

"Maybe we'll have to revise it upwards. We will make more precise calculations in the near future. The problem is that a simple extrapolation does not work very well, because there are a number of volatile factors, a component and some one-time factors. That is, just to multiply the result for four months through the end of the year would be wrong," he said.