Putin: Russian banking system to see profit of over 3 trln rubles in 2023, recoups last year's losses

MOSCOW. Dec 7 (Interfax) - Russia's banking system will earn more than 3 trillion rubles in 2023, recouping last year's losses, Russian President Vladimir Putin said at a meeting on Thursday with Crown Prince and Minister of Youth, Culture and Sports of the Sultanate of Oman Ziyazin bin Haisam Al Said.

"Our banking system as a whole will earn just over 3 trillion rubles this year. They will recoup everything they lost last year plus profit," the president said.

Putin and Ziyazin bin Haisam Al Said met on the sidelines of the "Russia Calling!" investment forum organized by VTB . The Crown Prince noted Oman's interest in investing in Russia's economy, adding that his country's authorities "greatly appreciate the personal involvement of [VTB CEO] Andrei Kostin and his role in promoting bilateral projects between the countries."

"It's true, Mr. Kostin is a very effective manager, but don't praise him too much, or he'll want to be a sultan too," Putin jokingly said regarding the VTB CEO, who also participated in the meeting.

At the same time, the Russian president pointed out that the good performance of Russia's financial system has been achieved due to, among other things, VTB's efforts.