Nabiullina predicts record profits for the Russian banking sector in 2021

According to TASS, she said this, speaking at the XVIII International Banking Forum "Banks of Russia - XXI century."

“Banks (during the pandemic -

) not only avoided large losses or a noticeable deterioration in the quality of loan portfolios, but also retained profits.

This year, thanks to continued business growth and low spending on reserves, banks' profits will be record high, ”Nabiullina said.

In July, the Central Bank of Russia improved its forecast for banks' net profit for the current year.

It is noted that in June 2021, the net profit of the banking sector in Russia amounted to 204 billion rubles. In May this year, the profit was 216 billion rubles.