15:51 - 21/07/2017
Russian banks' profits rose by a record 750 billion rubles in the first half of this year, the highest in Russia's modern history.
"In the absence of deterioration in the quality of loan portfolios, banks have been able to significantly reduce the spending of reserves that can be lost, and in the first half of 2017 amounted to banks' spending from reserves to cover potential losses, less than 300 Billion less, about a quarter less than the same period in 2016, and twice as low as January-June 2014 and 2015, "he said.
Bank profits have grown steadily as a result of increased domestic demand and growth in real wages, allowing borrowers to commit to paying payments to banks more regularly.
"In 2017, Russian banks continued to limit the volume of transactions with foreign credit institutions, due to the desire to avoid the risk of exchange rate fluctuations and the risk of refinancing."