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Russia's Central Bank Reports Lower Revenue
16.05.2014 21:38
Russia's Central Bank Reports Lower Revenue
Photo Credit: http://ozpp.ru

The Bank of Russia, the national Central Bank, has generated half as much revenue in 2013 as in the year before, says RIA-Novosti.

      According to the Central Bank, the 2013 figures stood at 130 billion roubles versus 247 billion roubles in 2012. The regulator cites the sale of a stake in Sberbank as a major driver of high revenue in 2012.

      The Bank of Russia is entitled to interest on loans to commercial banks and capitalization of its assets, mostly foreign exchange and precious metals. Under Russian law, the Central Bank has to pay 75 percent of its revenue to the federal budget. The rest can be spent on its operations, including on payroll.

       




Author: Mikhail Vesely

Tags: Bank of Russia Russia's Central Bank Russian banks   

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