MOSCOW, September 17. /TASS/. The Bank of Russia has upgraded its outlook on profits of the country’s banking sector for 2024 from 3.1-3.6 trillion rubles ($34-39 bln) to 3.3-3.8 trillion rubles ($36-41 bln), according to files released by the regulator.

"Considering July figures the profit outlook for 2024 has been upgraded to 3.3-3.8 trillion rubles. The cost of risk in the corporate portfolio remains below historical, while the growth of business contributes to expansion of banks’ operating profit," the Central Bank said. Earlier the regulator projected lenders’ profit by the end of this year at 3.1-3.6 trillion rubles.

That said, the Bank of Russia maintained its outlook on the sector’s profit for 2025 at 2.7-3.2 trillion rubles ($29-35 bln).

Net profit of Russian banks totally amounted to 1.7 trillion rubles ($18 bln) in January-June 2024 (899 bln rubles in Q1 and 770 bln rubles in Q2).

The Central Bank has also upgraded its outlook on growth of households’ funds on bank accounts for 2024 to 16-21% from 14-19% expected previously, according to files.