SAINT PETERSBURG, July 7. /TASS/. The Bank of Russia may increase its forecast for banking sector profits for 2023 in August, Governor of the Bank of Russia Elvira Nabiullina said on Thursday.

"The current forecast is more than 2 trillion [rubles]. But we can also revise it upwards. We will do this in August," she said.

It was reported earlier in June that Russian banks’ revenues could reach more than 2 trillion rubles ($21.9 bln) in 2023, the Bank of Russia said. "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 ($2.4 bln), while in four months, the banking sector earned 1.1 trillion rubles ($12.1 bln).