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30 Jan, 13:30

Russian banking sector profit in 2024 reaches $38.7 bln

In December last year, the net profit of the banking sector decreased 2.8 times compared to November and amounted to $1.9 bln

MOSCOW, January 30. /TASS/. The Russian banking sector earned 3.8 trillion rubles ($38.7 bln) in 2024. At the same time, the total financial result of the sector amounted to 3.4 trillion rubles ($34.63 bln), mainly due to the negative revaluation of securities, the Bank of Russia reported.

"In 2024, the sector earned 3.8 trillion rubles (excluding income from subsidiary banks). At the same time, the total financial result of the sector amounted to 3.4 trillion rubles, mainly due to the negative revaluation of securities, taken into account directly in the capital," the regulator said.

In December last year, the net profit of the banking sector decreased 2.8 times compared to November and amounted to 187 bln rubles ($1.9 bln).

In September last year, the Bank of Russia raised its profit forecast for the Russian banking sector for 2024 from 3.1-3.6 trillion rubles ($31.6-36.6 bln) to 3.3-3.8 trillion rubles ($33.6-38.7 bln). At the same time, the regulator kept the forecast of the sector's profit for 2025 at 2.7-3.2 trillion rubles ($27.5-32.6 bln).