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Financial Results of the Banking Sector in Q1 2021

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2021. No. 9, pp. 14-16

3 Pages Posted: 20 May 2021

See all articles by Sergey Zubov

Sergey Zubov

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA)

Date Written: May 18, 2021

Abstract

In Q1 2021, banks formed reserves in advance in the required amount. Therefore, there was no sharp decline in profits owing to the gradual abolition of easing in terms of the formation of reserves for large corporate loans. Nevertheless, compared to 2020, we should expect a slight deterioration in the bank profitability. The reason is a possible reduction in the credit supply amidst growing credit risks and a decrease in income from currency revaluation due to the strengthening of the ruble.

Keywords: Russian economy, banking sector, corporate lending

JEL Classification: G21, G24, G28

Suggested Citation

Zubov, Sergey, Financial Results of the Banking Sector in Q1 2021 (May 18, 2021). Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2021. No. 9, pp. 14-16, Available at SSRN: https://ssrn.com/abstract=3848567

Sergey Zubov (Contact Author)

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) ( email )

Vernadskogo Prospect 82
Sredny av. V.O., 57/43
Moscow, St. Petersburg 119571
Russia

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