Banking sector profit remains on the upward track

In February, banks continued to build up their profit: over January-February 2017, their financial result peaked at 212 billion rubles, exceeding this indicator for the same period the previous year by 2.5 times. This was announced in the information and analytical release ‘On the development dynamics of the banking sector of the Russian Federation in February 2017’ published on the Bank of Russia website.

Banking sector assets reduced by 1.3% in February 2017, however, as adjusted for the ruble appreciation, this decline was negligible (0.2%). In contrast, retail lending grew by 0.2% (by 0.3%, as adjusted for foreign exchange revaluation).

There was an inflow of household deposits (+1.1%, as adjusted for foreign exchange revaluation) amid a 1.7% drop in corporate deposits and funds held in accounts (a 0.1% drop, as adjusted for the ruble appreciation).