Russian banks’ net profit rises 18% in July to $5.28 bln — Bank of Russia

MOSCOW, August 24. /TASS/. The Russian banking sector’s net profit rose by 18% in July 2026 compared with June, reaching 443 bln rubles ($5.28 bln), according to materials from the Bank of Russia. "The sector’s net profit increased to 443 bln rubles in July, up 68 bln rubles, or 18%, from June. Annualized return on equity rose to around 24% from around 20%. Core profit amounted to 442 bln rubles, up 98 bln rubles, or 28%, amid a decline in provisions for problem assets to 168 bln rubles from 282 bln rubles in June, a decrease of 114 bln rubles, or 40%. Expenses declined mainly in the corporate segment, by 103 bln rubles, or 77%," the regulator said. The Bank of Russia noted that some banks released provisions, including after certain borrowers updated their business plans to reflect higher revenues. Meanwhile, non-core income declined by 46 bln rubles ($549 mln), or 31%, primarily due to lower dividend income from subsidiaries and affiliated companies. In May, the Bank of Russia raised its forecast for banks’ net profit in 2026 to 3.4-3.9 trillion rubles ($40.55-46.51 bln) from 3.3-3.8 trillion rubles ($39.36-45.32 bln). The regulator later said it could raise the forecast further.