Bank of Russia improves forecast for bank revenues to over $23.76 bln in 2023
In the absence of new shocks, the banking sector could earn more than 2 trillion rubles in 2023, exceeding previous estimates, the regulator said
MOSCOW, June 13. /TASS/. Russian banks’ revenues could reach more than 2 trillion rubles ($23.76 bln) in 2023, the Bank of Russia said on Tuesday.
"In the absence of new shocks, the banking sector could earn more than 2 trillion rubles in 2023, exceeding previous estimates (up to 1.5 trillion rubles). The main reasons for the change in forecast are a significant margin (the annual forecast was raised to 4.3-4.5%) and high actual figures at the start of the year (1.1 trillion rubles over four months), including currency revaluation against a weakening ruble," the regulator said.
It was reported earlier that the net profit of Russian banks in April was 224 bln rubles ($2.66 bln), while in four months, the banking sector earned 1.1 trillion rubles ($13.07 bln).