MSOCOW:

The Pak Banker - - FRONT PAGE -

Rus­sian bank­ing prof­its fell by 67 per­cent to 192 bil­lion rou­bles ($2.4 bil­lion) in 2015, the cen­tral bank said on Mon­day, com­pared with 589 bil­lion rou­bles the pre­vi­ous year.

The cen­tral bank said that loan-loss pro­vi­sions for the sec­tor were 33 per­cent higher at the end of 2015 than at the start of the year. Banks' as­sets shrunk by 1.6 per­cent over 2015 when cur­rency moves were fac­tored in.

Prof­its slid as an eco­nomic re­ces­sion led to a de­te­ri­o­ra­tion in loan qual­ity and high cen­tral bank in­ter­est rates ate into mar­gins. Many banks were loss-mak­ing, with the no­table ex­cep­tion of top bank Sber­bank.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.