What Russian banks' revenue expected by Central Bank?

What Russian banks' revenue expected by Central Bank?

Russia’s Central Bank expects the banking sector’s revenue to exceed the result of last year in 2018, the regulator’s Deputy Governor Olga Polyakova said.

In 2017, Russian banks earned 790 bln rubles ($12.6 bln). In January-April period of 2018, the banking sector’s revenue amounted to 573 bln rubles ($8.6 bln) versus 553 bln rubles ($8.8 bln) in the same period last year.

"We have not yet made projections for full year, but will be higher than last year," TASS cited Polyakova as saying.

The deputy governor considers the decline in revenue of the banking sector for four months of this year to be minor. "One should take into account that the number of credit organizations has dropped, and credit organizations that are currently undergoing recovery procedures, have been setting up reserves," she explained.

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