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.

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.

Banking Sector Performance

Nov 04

Oct 05

Nov 05

RUR bn

% y/y

%m/m

RUR bn

% y/y

% m/m

RUR bn

% y/y

% m/m

TOTAL ASSETS, o/w:

6,865.6

26.2

4.1

8,999.1

36.5

0.8

9,391.6

36.8

4.4

Loans to non-banks

3,120.5

35.0

3.3

4,035.1

33.6

3.3

4,141.3

32.7

2.6

Loans to individuals

573.3

103.4

5.1

1,037.6

90.3

6.5

1,096.8

91.3

5.7

Investment in securities

1,144.7

6.2

-1.1

1,432.9

23.8

-1.9

1,441.5

25.9

0.6

TOTAL LIABILITIES, o/w:

5,879.9

26.6

4.6

7,781.1

38.4

0.6

8,138.7

38.4

4.6

Client Deposits, o/w:

3,924.1

35.5

4.5

5,390.2

43.5

0.9

5,565.5

41.8

3.3

Individual deposits

1,918.3

30.5

2.2

2,557.4

36.2

1.5

2,635.1

37.4

3.0

OWN FUNDS, o/w:

985.7

24.0

1.5

1,218.0

25.4

1.8

1,252.9

27.1

2.9

Profit for the current year

168.23

44.2

5.5

225.30

41.3

8.5

252.27

50.0

12.0

Monthly profit

8.80

38.9

-48.4

17.74

3.9

-48.0

26.97

206.5

52.0

Source: CBR, IntelliNews