Profits of Russian banks increased 1.5 times in November due to the fall of the ruble

08:10; 24 December 2024 year

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In November 2024, the net profit of Russian credit institutions amounted to 518 billion rubles. This is stated in In comparison with the previous month, this indicator increased 1.5 times (in October, 348 billion rubles). The return on equity (ROE) also increased 1.5 times from 25.2% to 37%.

The increase in net profit is explained by the currency revaluation against the background of the weakening of the ruble against the dollar. At the end of November, due to the panic in the foreign exchange market, the dollar rose to 115 rubles, the euro rose above 120 rubles. In this regard, the profit of banks increased by 140 billion rubles. A month earlier, the growth was 23 billion rubles. The main profit increased due to a reduction in deductions to reserves and an increase in net interest income (+60 billion rubles).

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