MOSCOW, September 7. /TASS/. Profit of the Russian banking sector may exceed 2.6 trillion rubles ($26 bln) by the end of this year, hitting a record for the sector, according to research by the Analytical Credit Rating Agency (ACRA).

"ACRA expects net profit of the banking system to exceed 2.6 trillion rubles in 2023. However, the persisting volatility of the forex market and the ability of Russian banks to make profit as the exchange rate of the national currency falls manifested in the first half of the year, may lead to far higher final results," the agency said.

Even with the neutral result of transactions on the forex market, the maintained ability of credit organizations to earn interest and fee income in the amount comparable with the level in the first half of this year, will enable the sector to show record profit above 2.6 trillion rubles, ACRA’s experts believe.