Profits of Russian banks in two months amounted to 79.2 billion

Profit of the banking sector in Russia (excluding Sberbank) in January-February 2011 amounted to 79.2 billion rubles, the director of the department of licensing and financial rehabilitation of credit institutions the Central Bank of Russian Federation Mikhail Sukhov at the Russian Economic and Financial Forum in Switzerland. According to him, this figure is substantially higher performance of the banks in the same period last year, said RIA Novosti. "This suggests that the banking sector went on a stable operating margins," - said Sukhov. He noted that this fact also confirms the increase in the size of reserves of credit institutions, which in January and February added 17.5 billion rubles. According Sukhova, Russian banks' assets (excluding Sberbank) increased by 1,9%. By February, their growth was 15,9%. The positive dynamics of the credit portfolio amounted to 0.4% in February, on an annualized basis - 15%. Deposits in banks increased in February by 1.7% and year on year - on 32,9%. Thus, the growth rates of assets and loans is currently in 1,5-2 times higher than inflation, summed Sukhov. Today, Sberbank reported on the financial performance for the first 2 months of 2011. Net profit for January-February this year amounted to 52.8 billion rubles, as against 24.4 billion rubles in the same period a year earlier. The bank's assets in January-February 2011 have changed slightly and amounted to 8.549 trillion rubles. Source: BFM.Ru