Home / Business / Profit of Russian banks jumped 18 times

Profit of Russian banks jumped 18 times

Прибыль российских банков подскочила в 18 раз

Russian credit organizations in January-March of 2016 received a profit of 107 billion rubles, said at a Congress of the Association of Russian banks, the head of the Central Bank Elvira Nabiullina, reports “Interfax”.

“Despite the fact that in the beginning of last year were the losses of the banking system at year-end the banking system made a profit, and profitability is maintained this year. For the first quarter of banks received 107 billion rubles”, — she said.

In the first quarter of 2015 net profit earned by Russian banks amounted to six billion rubles. Thus, from January to March 2016 the profit of the sector increased by almost 18 times compared to the same period last year.

According to the Central Bank, Russian banks have a stock of spare capital of 1.7 trillion rubles, which allows you to increase lending to the economy.

“With the continuing improvement of the liquidity situation reduced the demand of credit organizations funds of Bank of Russia — their share in liabilities of banks fell by half — from 10.2% in the first quarter of 2015 to 5.1 percent,” — said Nabiullina. She also recalled that the capital of the Russian banks for January-February 2016 rose 0.9 percent to 9.1 trillion rubles.

With the beginning of the year, the Bank of Russia revoked the licenses of 26 banks. Over the past year the number of closed banks amounted to 93. According to the forecast of the savings Bank, about 10 percent of Russian banks in 2016 will lose your license.

Check Also

UK house prices fall by 1.8% during year amid higher mortgage costs

Property market weak, says Nationwide, which expects prices to remain flat or drop slightly in …