Russian banks ‘ profit grew seven times

In January—June of 2016, Russian banks made a profit of 360 billion rubles, which is more than seven times higher than the profit for the first six months of 2015 (if it was 51 billion rubles), follows from the message of the Central Bank.

The Central Bank explained that to increase the profit of the banks helped balanced interest rate policy, “stimulated the growth of net interest income” and “stabilization of loan portfolio quality contributing to the slowdown in the growth of reserves on possible losses”.

The reserves of the Russian banks on possible losses increased since the beginning of 2016 to 237 billion rubles, or 4.4%.

The total volume of banks ‘ assets in June decreased by 0.7% (to 79.5 trillion rubles) in the first half of 2016 by 4.2%. The volume of credits to economy decreased by 5%, loans to non-financial institutions — 6.2%, loans to individuals — 1%.

The volume of deposits increased in June by 0.6% (to 23.1 trillion), and for the six months decreased by 0.7%. The volume of deposits and funds on corporate accounts fell in June by 2.6% (to 25.1 trillion) in January—June to 7.2%.