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Russian banks’ profits reach 848 bln roubles in 2011

January 19, 2012, 13:00 UTC+3

In 2010 the figure was 530 billion rubles

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TULA, January 19 (Itar-Tass) —— Profits of Russian banks, according to Russian standards, reached 848 billion roubles in 2011, deputy chairman of the Bank of Russia Alexei Simanovsky said on Thursday.

In 2010, he noted, the figure was 530 billion rubles.

Russian banks’ assets (including those of Sberbank) grew by 23.1 percent in 2011, as compared with 14.9 percent in 2010. Deposits of natural persons in 2011 went up by 20.9 percent, including 7.3 percent in December alone when banks were offering higher interest rates.

So far, Simanovsky said, no data on reserves as of January 1, 2012 are available, but as of December 1, 2011, reserves amounted to 442 billion rubles or eight percent of the credit portfolio, and were 412 billion rubles (9.7 percent of the credit portfolio) as of November 1, 2011.

“I expect about the same figure by the end of the year,” he added.

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