OREANDA-NEWS By the end of 2024, a third of Russian banks out of the top 100 experienced a drop in profits, although the sector as a whole showed record profitability. This is reported by RBC with reference to the reports of credit institutions and their own calculations.

This result was possible due to the fact that 79 percent of the profit (just over three trillion rubles) came from three banks, and half of this amount — 1.56 trillion rubles according to Russian accounting standards (RAS) — was provided by the Savings Bank.

Net profit decreased at three systemically important banks: Sovcombank (minus 56 percent, 42.8 billion rubles), UniCredit (minus 30 percent, 40.8 billion rubles) and Credit Bank of Moscow (minus 25.8 percent, 31.9 billion rubles).

If we look at the rest of the banks in the top hundred, Solidarity's profits fell the most (18 times, 0.1 billion rubles), Expobank (6.9 times, 2.2 billion rubles) and Realist Bank (3.1 times, 0.4 billion rubles).