Russian banks’ profits could exceed record 2023 levels this year, says central bank

MOSCOW, April 9 (Reuters) – Russian banks’ profits this year could exceed the record levels achieved in 2023, Central Bank Deputy Governor Olga Polyakova said at a banking conference on Tuesday, an increase in the bank’s previous forecast.

The bank had previously said that profits would decline to 2.3-2.8 trillion roubles ($24.8-$30.2 billion) this year after sharp rises in mortgage, consumer and corporate lending drove the sector to profits of 3.3 trillion roubles in 2023.