MOSCOW, October 18. /TASS/. The profit of Russian banks in September decreased by 23% compared to August and reached 336 bln rubles ($3.48 bln), since the beginning of the year it has reached 2.7 trillion rubles ($28.01 bln), according to the Bank of Russia.

"The net profit of the sector was 336 bln rubles, which is 98 bln rubles or 23% lower than the August result of 433 bln rubles. The decrease was due to the growth of reserves and lower currency revaluation," the regulator noted.

In the first 9 months of 2024, banks earned 2.7 trillion rubles ($28.01 bln), 5% more than a year earlier, due to business growth and low risk costs in the corporate portfolio. At the same time, core profit decreased to 201 bln rubles ($2.08 bln) (-56 bln rubles ($581.03 mln), or 22%) due to an increase in deductions from reserves.

In terms of non-core profit, banks' income from foreign currency revaluation fell by half to 68 bln rubles ($705.55 mln) against 136 bln rubles ($1.41 mln) in August due to a smaller decline of the ruble against the dollar (-2% vs. -5% in August) and the euro (-3% and -7%, respectively).