• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Russian banks made a record $36.8 billion in profit last year, and even the central bank is surprised by it

2 years ago
in Banking & Finance, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
36
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Bog Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

Russian banks made a record $36.8 billion in profit last year, and even the central bank is surprised by it

Even Russia’s central bank is surprised by how well Russian banks did last year.

Russian banks made 3.3 trillion rubles, or $36.8 billion, last year, marking a record high, the country’s central bank announced on Tuesday.

The performance came as somewhat of a surprise, said Alexander Danilov, the head of Russia’s central bank’s banking regulation department, according to the Financial Times.

The earnings are a massive jump from the sector’s 200 billion-ruble profit in 2022 — when profits tanked 90% from a year earlier amid Western sanctions over Russia’s invasion of Ukraine.

Russia’s banking sector’s performance last year was spurred by demand for mortgages as well as loans to finance large business acquisitions, the central bank said in its statement on Tuesday.

Mortgage lending last year rose nearly 35% from a year ago as Russians rushed to buy homes on state-backed subsidized mortgage rates, said the central bank.

Russian authorities have started winding down the discounted mortgage program,the independent Russian news outlet The Bell reported in September. At the time, mortgage rates in Russia were around 15%,but the subsidized mortgage rate was 8%. Families got a bigger discount with a mortgage rate of 6%.

Meanwhile, corporate lending in Russia rose about 20% last year from a year ago, the country’s central bank said on Tuesday. It didn’t specify what the loans went to, but Russian businesses have been buying up assets from international firms that left the market.

The latest central bank report is another indication of unusual resilience in Russia’s sanctions-hit economy nearly two years into its war in Ukraine.

Reports suggest that much of the country’s growth is due to massive military and government spending.

However, Russia’s economy runs the risk of overheating, the country’s top central banker, Elvira Nabiullina, said in December as she hiked benchmark interest rates to 16% to cool demand.

On Tuesday, Russian central bank’s Danilov said both consumer and corporate lending growth are expected to slow next year, in turn hitting bank profits, per Reuters.

Tags: and even the central bank is surprised by itRussian banksRussian banks made a record $36.8 billion in profit last year
No Result
View All Result

Highlights

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

GLD Posts First Price Gain in September as Market Indices Remain Unchanged

Samba Foods Signs MoU With Unifa Brothers to Revamp Production Lines

Methodist Church Ghana to Launch Connexional Entrepreneurship Programme – Presiding Bishop Asamoah-Gyadu Discloses

Rt. Rev. Emmanuel Ansah Urges Graduates to Embrace Failure as Methodist Church Ghana Outdoors First Cohort of Wesleyan Entrepreneurship School

Trending

Business

Bog Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

September 2, 2025

Bog Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong...

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

September 2, 2025

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

September 2, 2025

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

September 2, 2025

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.