The net profit of the banking sector in March amounted to 270 billion rubles

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AK&M 19 April 2024 19:07

The net profit of the banking sector in March 2024 amounted to 270 billion rubles against 275 billion rubles in February. This is reported in the materials of the Bank of Russia.

The main profit decreased to 158 billion rubles from 210 billion rubles in February. The regulator notes that this decrease was technical. In March, the securities were reclassified to the category of held-to-maturity from those measured at fair value. 

They accumulated a negative revaluation (50 billion rubles), which was restored, and instead reserves were formed for the same amount as part of the main profit. The net profit was not affected by this reclassification.

The number of profitable banks increased to 255 from 248 in February, and their share of the total number of banks increased to 80% from 77%.