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RUSSIA'S ECONOMY

Central Bank expects Russian banks' revenue to exceed last year’s result in 2018

Revenue of Russia’s banking sector amounted to $8.6 bln for January-April

MOSCOW, May 16. /TASS/. Russia’s Central Bank expects the banking sector’s revenue to exceed the result of last year in 2018, the regulator’s Deputy Governor Olga Polyakova said Wednesday.

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In 2017, Russian banks earned 790 bln rubles ($12.6 bln). In January-April period of 2018, the banking sector’s revenue amounted to 573 bln rubles ($8.6 bln) versus 553 bln rubles ($8.8 bln) in the same period last year.

"We have not yet made projections for full year, but (revenue in 2018 - TASS) will be higher than last year," she said.

Polyakova considers the decline in revenue of the banking sector for four months of this year to be minor. "One should take into account that the number of credit organizations has dropped, and credit organizations that are currently undergoing recovery procedures, have been setting up reserves," she explained.

Revenue of Russia’s banking sector amounted to 573 bln rubles ($8.6 bln) for January-April period of 2018, she said. "The sector’s revenue amounted to 537 bln rubles for those four months," she said.

Russian banks earned 553 bln rubles ($8.8 bln) in the same period last year.

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