Russian banks see record net profit of $41B in 2024

MOSCOW

Russian banks last year hit a record net profit of 3.8 trillion rubles (some $41 billion).

A report from the Central Bank of the Russian Federation on Thursday said the corporate loan portfolio of Russian banks jumped 17.9% from the previous year to 87.8 trillion rubles (some $948 billion).

Deposits rose 26.1% to a record high of 57.5 trillion rubles ($620.5 billion), it said..

The main reasons for the increase in deposits were an increase in the population income level and high deposit rates, it added.

The average USD/RUB exchange rate in 2024 was 92.66.