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Russian Banks Incurred Losses
September 21, 2015 23:01


30 largest banks in Russia have incurred losses in the amount of 10.8 billion roubles from January to July. During the same period of last year the credit institutions showed a profit of 422.6 billion roubles. This is evidenced by the data of the Central Bank.

At the same time, 200 largest financial institutions have completed the seven months with a profit in the amount of 12.9 billion roubles, and the entire banking system - in the amount of 34.1 billion. The assets of the thirty largest banks, as of August 1, amounted to 58.6 trillion roubles (for all Russian banks - 74.8).

The banks have completed the first half of the year with a profit of 51 billion roubles. At the same time losses were recorded in some months (for example, in April - 20 billion roubles). On May 13 the First Deputy Prime Minister Igor Shuvalov stated that the domestic banking sector would not see profits in the near future.

The official added that the profits would begin to grow at the turn of 2015-2016. At the end of last year the profit of credit organizations in Russia decreased by 40.7 percent. It amounted to 589 billion roubles. The main reason for this was the increase in the bank reserves for possible losses.

The top-30 of Russian banks include Sberbank, VTB, VTB 24, Alfa Bank, The Bank of Moscow, Promsvyazbank, Raiffeisenbank, Otkrytie, Russian Standard, Uralsib and a series of other financial institutions.


Author: Anna Dorozhkina

Tags: Russian banks     

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