Russian Central Bank Governor Elvira Nabiullina said at the International Financial Congress that the Russian banking sector has doubled profits over the first six months of 2017. “The banking sector had profit of RUB 770 billion over the first six months. This is two times higher than over the same period of last year – RUB 360 billion”, she is quoted as saying by. Nabiullina noted this trend shows that the recovery of the banking system has been a success.
Nabiullina said loans to individuals increased in June. “Mortgages are growing at a rapid pace. Private deposits are also increasing. It is telling that the share of private deposits in the bank’s liabilities has exceeded the share of corporate funding”, she noted.