Russia's banking sector's net profit in August amounted to RUB244bn ($3.3bn) with a return on capital of 26% in annual terms. The profits were 7% more than the July result of RUB229bn.
Over the first eight months of this year the bank sector profit amounted to RUB1.7 trillion ($23.5bn). If the current rate of growth in profits is maintained then the annual profits could reach a record RUB2.5 trillion, according to the Central Bank of Russia (CBR).
The number of profitable banks increased in August to 259 from 249 a month before, while the share of profitable banks in the first eight months of 2021 remains at the level of 98%, the CBR said. About 85% of the profits were received by systemically important credit institutions.
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