The combined net profit of Russian banks amounted to 537 billion rubles in January-August and it is expected to exceed 700 billion rubles overall in 2016, Deputy Central Bank Chairman Mikhail Sukhov said.
He said that the January-August net profit exceeded the central bank’s earlier forecast, which stood at 500 billion rubles.
Retail lending declined by 0.7% YoY and grew by 0.7% MoM in August, and overdue loans stabilized at 8.6% over the period, the official said.
“Banks have learnt to be stricter to the financial state of borrowers lately, we expect that overdue debt, at least for the new loans, will be less at least for the nearest future”, Sukhov said.
Corporate loans in rubles decreased by 0.9% in August, Sukhov added.
Household deposits grew by 0.5% in August, The deposits in foreign currency rose by 0.4% and by 0.5% in rubles. Without the ruble revaluation retail deposits fell by 0.3%, Sukhov said.
He also said that the central bank had retained a deposit growth forecast for 2016 at 10-15%. (Prime/Business World Magazine)