The net profit of the Russian banking sector in February 2024 amounted to RUB 275 billion, which is 22% lower than in January and 6% less than in January 2023. This is reported in the materials of the Bank of Russia.
The return on equity decreased to 23% from 30% in January 2024 and 29% in February 2023.
The number of profitable banks decreased to 248 from 292 in January. Their share of the total number of banks decreased to 77% from 90%.
In general, the profit is still higher than the expectations of the Bank of Russia due to the very low cost of risk on corporate loans.
