Russia: Aggregate Banking Profit Grows By 50% Y/Y To US$8.78 Billion In November

According to CBR data, aggregate banking profit increased by 50% year-on-year in November to RUR252.3 billion (US$8.8 billion), compared to RUR225.3 billion (US$7.9 billion) in October. Monthly profit soared by 206.5% y/y in November to almost RUR27 billion (US$938.7 million), compared to a mere 3.9% y/y increase posted in October, when the indicator amounted to RUR17.74 billion (US$622 million).

Total assets grew by 36.8% y/y in November and amounted to RUR9.4 trillion (US$326.9 billion). In month-on-month terms the indicator went up by 4.4% in November, compared to an inch up of 0.8% posted in October. November witnessed an increase in lending, as loans to non-banks were up by 2.6% m/m and loans to individuals advanced by 5.7% m/m, compared to 3.3% and 6.5% respectively, posted in October. Investment in securities inched up by 0.6% m/m in November, compared to a fall of 1.9% m/m witnessed in October. Banks’ liabilities went up by 4.6% m/m in November and amounted to RUR8.1 trillion (US$283.3 billion), compared to an inch up of 0.6% in October. Client deposits made up 3.3% m/m and 41.8% y/y. The figures show that the banking sector experienced steady expansion in November.