Profits of Russian banks will amount to 2.5 trillion rubles in 2021

The Russian Federation Central Bank expects the entire profit of the country’s banks could be approximately 2.5 trillion rubles in 2021. Over an 11-month term, it reached the amount of 2.25 trillion rubles, which is 60% more than a year previously. The Bank of Russia, Deputy Governor, Olga Polyakova, told the country’s banks have provided a safety good margin. The capital adequacy ratio exceeds 12%. Olga Polyakova did not name the banks that received a record amount of profit concluding year. However, she noted that in making determinations on the payment of dividends, credit institutions are required to take into account a number of aspects. They need to secure adequate capital to cover potential losses and increase lending. Olga Polyakova also said that consultations with the heads of large banks on dividends are currently in progress. The Central Bank recommends refraining from paying them, as this may damage the credit institutions’ financial stability.

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Arseny Kudrin

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