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Russian banks make more than $12.8 bln in 11 months of 2016

December 12, 2016, 19:15 UTC+3 MOSCOW
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MOSCOW, December 12. /TASS/. The profit of Russian banks in 11 months of 2016 amounted to $12.8 bln, the Central Bank said in a report.

In comparison with the beginning of the year, the banks' profits rose fourfold. "The profit of Russian banks reached 788 billion rubles on December 1, 2016. In November, the profit increased by 10%," the regulator said.

According to the Central Bank forecasts, the Russian banking sector profit for 2016 may amount to about $14.7 bln.

Earlier head of the Central Bank Elvira Nabiullina noted that the banking sector regains its profitability. She also said it is important to ensure that banks do not "eat away" profits and sent it to replenish the capital of the banking system to increase lending.

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