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The profit of Russian banks jumped 26 times

Прибыль российских банков подскочила в 26 раз

Russian banks in January-may of 2016 received 235 billion rubles of profit. This is stated in the materials of Bank of Russia. Over the same period last year this figure amounted to nine billion rubles. Thus, the profit of the sector increased 26 times.

In may, banks earned 68 billion rubles — almost a third of the whole sum from the beginning of the year, follows from the document.

Reserves on possible losses increased since the beginning of the year by 5.3 percent, or 287 billion rubles. Over the same period last year the figure rose to 11.6% (469 billion).

On 17 June the President of Sberbank German Gref said that Russian banks ‘ profit in 2016 will amount to 600-700 billion rubles.

June 14 the Chairman of the Bank of Russia Mikhail Sukhov said that the profit of the banking sector of Russia in 2016 could exceed 500 billion rubles.

By the end of 2015, the profit of the Russian banking system amounted to 192 billion.

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