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Economists expect that Russian banks will achieve profits that may reach the equivalent of 20.7 billion US dollars in the current fiscal year.
In a note on the banking sector in Russia published by TASS today, the experts explained that “after the challenges that Russian banks faced last year, they will be able to reap about 1.2 to 1.5 trillion Russian rubles this year, which is more than half of the record profits they achieved in 2021, which At that time, it amounted to 2.4 trillion rubles.
Analysts expected that the large-scale transformation of the Russian economy will support the demand for loans, as well as the corporate loan portfolio in rubles will grow by 15 and 20 percent, while the share of corporate loans in foreign currency will decrease to 14-15 percent compared to 16 percent last year and 24 percent in 2021.
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