Mechanism of alerting on cyberattacks practically never used by US — spokespersonWorld May 23, 22:19
Putin praises work of Independent Public Anti-Doping CommissionSport May 23, 20:38
Russia needs expanding representation in global sports federations — ministerSport May 23, 20:21
Russian athletes must be trained for Olympics under certain geographic conditions — PutinSport May 23, 19:38
Final charges brought against Russian ex-economy minister UlyukayevBusiness & Economy May 23, 18:59
WADA delegation to visit Moscow this week to help with membership reinstatementSport May 23, 18:48
US President Donald Trump's first trip abroadWorld May 23, 18:41
Russian scientists master stimulating neurons with infrared irradiationScience & Space May 23, 18:37
Global research team cracks bacteria transmission codes to combat drug-resistant strainsScience & Space May 23, 17:44
MOSCOW, January 21. /TASS/. Russian banks’ profits declined by 40.7% in 2014 to 589 billion rubles (about $9 billion), according to data released by the Russian Central Bank on Wednesday.
The banks’ profits shrank last year as they had to create larger loan impairment provisions, which had grown by 42.2% since the start of 2014 compared with the 16.8% growth registered in 2013, the regulator said.
If oil prices stay at $40 per barrel in 2015, Russian banks will have to set aside 3 trillion rubles ($46 billion) for loan provisions, according to an estimate made by Russia’s largest state-owned lender Sberbank.
Russian Central Bank First Deputy Chairman Alexey Simanovsky said last November that Russian banks’ profits in 2014 would be 10% lower than in the previous year.
In 2013, Russian banks earned 994 billion rubles ($15.2 billion). Russia’s banking sector earned record profits of over 1 trillion rubles ($15.3 billion) in 2012.
Simanovsky said Russian banks may return to their record profits in 2015.