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Russian banks will post profit for 2015, despite losses increased in February, Central Bank says

16.03.2015 17:18

Russian banks will post profit for 2015, despite losses increased in February, Central Bank says

YEREVAN, March 16. /ARKA/. Russian banks’ losses grew from 24 billion rubles over a month up to 36 billion rubles in February, yet the banks will post a profit of several hundred billion rubles as of the end of this year, said Mikhail Sukhov, deputy head of the Russian central Bank, according to the Prime.

The banks will have to operate in difficult financial conditions, but it is low probable the losses will reach a trillion rubles, as some experts projected, by the end of the year, Suhkov said at the Russian economic and financial forum in Geneva.

According to the vice-chairman of the central bank, the financial status of Russian banks will be getting more and more polarized, but not worsened. This will make banks behave economically in a more rational way, in terms of expenditures in particular, Sukhov said.

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Russian central bank raises key rate unexpectedly

25.07.2014 16:04

Russian central bank raises key rate unexpectedly

The Board of Directors of Bank of Russia raised the key rate unexpectedly on Friday by 50 basis points to 8 percent. The bank was widely expected to leave rates unchanged, according to Russian media reports

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