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Net profit of banks in October 2021 amounted to 231 billion rubles, follows from the Report on the development of the banking sector in October 2021, which was published by the regulator. This is 18% more than the September figure (196 billion rubles).
The Central Bank explained the growth of the sector’s profits by the restoration of reserves in connection with the settlement of the Bank’s distressed assets of non-core assets.
According to the Bank of Russia, the number of profitable credit institutions in October increased from 244 to 248.
For 10 months, the banking sector earned 2.1 trillion rubles (+ 62% compared to the same period last year), about 85% of the profits were received by systemically important credit institutions.
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