Bank of Russia upholds profit forecast for ’24

BanksFeaturedInternational News
By Nada Ali
Bank of Russia
National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. (Photo Credit: Reuters)

Bank of Russia reaffirmed on Thursday its forecast for the banking sector’s profits in 2024, expecting a total of 3.3-3.8 trillion rubles ($35.7-41.1 billion). This marks an upward revision from the previous estimate of 3.1-3.6 trillion rubles announced in September.

Deputy Chairman Olga Polyakova confirmed the forecast during a press conference on the sidelines of the International Banking Forum.

While the regulator maintained its profit forecast for 2025 at 2.7-3.2 trillion rubles, the positive outlook for 2024 reflects the improving financial health of the Russian banking sector.

Attribution: Tass

Subediting: Y.Yasser

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