Banking sector profits totalled 114 billion rubles in January

In January 2017, the dynamics of banking sector certain indicators was slightly different from 2016 trends, also due to seasonal factors. Information and analytical material ‘On the Dynamics of the Development of the Banking Sector of the Russian Federation in January 2017’ posted on the Bank of Russia website looks into the current situation in the banking sector.

The banking sector assets showed a positive dynamics and grew by 0.6% in real terms. Loans to non-financial organisations with an adjustment to a stronger ruble actually remained the same. The volume of household loans slightly reduced (by 0.3% net of FX revaluation).

The household deposits outflow turned out to be less in volume than usually in January (-0.6% net of FX revaluation). It is worth mentioning that this outflow was fully compensated by the growth of legal entities’ deposits and assets on bank accounts (by 3.0% in real terms).

Banking sector profitability kept on increasing in January, and banks’ profits totalled 114 billion rubles.