The Central Bank of Russia: Banking Sector Profits Fall on a Monthly Basis in November

Russia’s central bank said on Monday that profits in Russia’s banking sector fell to 149 billion rubles ($ 1.98 billion) in November from 170 billion in October.

The central bank added that Russian banks achieved profits of 1.4 trillion rubles in the eleven months of 2020.

Russia’s credit rating agency Accra said earlier this month that combined net profits for Russian banks could drop to 735 billion rubles in 2021, or about half of what they are heading to this year.