Gaidar Institute: Russian banks made record profits in the first three quarters Gaidar (at the disposal of “Lenta.ru”).
According to the authors, the profit of the Russian banking sector in January-September increased by 737.1 billion rubles compared to the same period last year. In percentage terms, the growth amounted to 65.1 percent.
A positive financial result following the results of nine months of work was achieved by 78 percent of 338 credit institutions operating in Russia. At the same time, profit growth exceeded the growth indicators of total assets and capital of the banking sector.
The return on banking assets (the ratio of profit to assets) in the first three quarters was 2.2 percent (versus 1.9 percent a year earlier) , return on equity (profit-to-equity ratio) – 21.7 percent (versus 16.8 percent in 2020). The authors compare with similar results in the United States, where the average return on equity of the banking sector was 11-12 percent and in Europe – 6-8 percent.
Among the main reasons for the record growth in profits, the authors name the rapid growth in lending to the population, and the reduction in expenses. to create reserves for possible losses on loans (due to improved quality of loan servicing and a low share of debt), growth of the stock market and fee and commission income due to the development of intermediary operations.
In September, Russian banks recorded a profit of 20 percent less than in August of this year – 196 billion rubles.