According to recent RosStat data for the whole 2005, aggregate corporate profit amounted to RUR3 trillion (US$104.4 billion) in the mentioned period. The result for 2004 was revised. The monthly profit amounted to RUR285 billion (US$9.9 billion) in December 2005, which means a 6% month-over-month growth as compared to November. The overall year-on-year growth accelerated from 35.2% in the period from Jan.–Nov., to 36.6% in Jan. –Dec. The growth is still much lower that an impressive 52.4% posted in 2004.
The share of loss-making companies slid further to 33.5% in 2005, against 34.5% in Jan.-Nov. and 35.8% in 2004. Generally speaking, December showed a similar growth pattern compared to November, keeping the major tendencies in corporate profit sector breakdown. In year-on-year terms, the biggest profit in 2005 was posted in extraction (75.6% in general and 85.7% in energy resources), due to continuously very high prices on metals and energy resources. Profit in real estate services sector increased by 47.7% y/y in 2005, against 46.9% y/y in Jan-Nov.
Retail trade and services showed an increase in profit of 42.5% y/y in 2005, compared to 40.7% in Jan-Nov. Profit in construction surged by 21.1% y/y in 2005 versus a growth of 6.3% witnessed in Jan-Nov. In transport and telecommunications the profit surged by 30.3% y/y in 2005, with railroad transport posting an actual increase in profit of 1.5% (the sector continued to post losses for a few months in a row) and telecommunications rose by 61.5% in the mentioned period. Processing industries posted a 16.2% y/y increase in 2005, compared to a 15% growth in Jan-Nov.
Meanwhile, according to CBR data, aggregate banking profits went up by 47.3% y/y in December to RUR262.1 billion (US$9.11 billion), compared to RUR252.3 billion (US$8.8 billion) in November. Monthly profit inched up by 1.2% y/y to RUR9.83 billion (US$341.5 million), compared to a surge of 206.5% y/y in November, when the indicator amounted to RUR26.97 billion (US$938.7 million).
Total assets increased by 36.6% y/y in December and amounted to RUR9.75 trillion (US$338.8 billion). In m/m terms the indicator went up by 3.8%, decelerating slowly from November's 4.4% growth. Acceleration in lending was visible in December, as loans to non-banks were up by 3.2% m/m in December from 2.6% in November. Growth of retail loans accelerated to 7.5% m/m in December, compared to 5.7% the month before. Investment in securities surged by 6.8% m/m in December, compared to an inch-up of 0.6% in November. Banks' liabilities went up by 3.6% m/m in December and amounted to RUR8.43 billion (US$292.9 billion), compared to a growth of 4.6% in November. Client deposit growth made up 4.6% m/m in December, marking acceleration compared to November's 3.3% growth. The figures indicate steady expansion of banking sector in December.
| Banking Sector Performance | |||||||||
| Dec 04 | Nov 05 | Dec 05 | |||||||
| RUR bn | % y/y | %m/m | RUR bn | % y/y | % m/m | RUR bn | % y/y | % m/m | |
| TOTAL ASSETS, o/w: | 7,136.9 | 27.4 | 4.0 | 9,391.6 | 36.8 | 4.4 | 9,750.3 | 36.6 | 3.8 |
| Loans to non-banks | 3,268.7 | 37.1 | 4.7 | 4,141.3 | 32.7 | 2.6 | 4,274.8 | 30.8 | 3.2 |
| Loans to individuals | 618.8 | 106.5 | 7.9 | 1,096.8 | 91.3 | 5.7 | 1,179.2 | 90.6 | 7.5 |
| Investment in securities | 1,086.9 | 8.5 | -5.0 | 1,441.5 | 25.9 | 0.6 | 1,539.4 | 41.6 | 6.8 |
| TOTAL LIABILITIES, o/w: | 6,130.8 | 28.1 | 4.3 | 8,138.7 | 38.4 | 4.6 | 8,430.1 | 37.5 | 3.6 |
| Client Deposits, o/w: | 4,151.5 | 38.4 | 5.8 | 5,565.5 | 41.8 | 3.3 | 5,818.9 | 40.2 | 4.6 |
| Individual deposits | 2,026.7 | 30.0 | 5.7 | 2,635.1 | 37.4 | 3.0 | 2,817.1 | 39.0 | 6.9 |
| OWN FUNDS, o/w: | 1,006.1 | 23.4 | 2.1 | 1,252.9 | 27.1 | 2.9 | 1,320.2 | 31.2 | 5.4 |
| Profit for the current year | 177.94 | 37.9 | 5.8 | 252.27 | 50.0 | 12.0 | 262.10 | 47.3 | 3.9 |
| Monthly profit | 9.71 | -21.6 | 10.3 | 26.97 | 206.5 | 52.0 | 9.83 | 1.2 | -63.5 |
| Source: CBR, IntelliNews | |||||||||
