Page 90 - RusRPTMay21

In total, in the first quarter of 2021, banks earned RUB578bn, which is 9% higher than the result first quarter of 2020.
Among the main positive factors, one can single out the growth of net interest income which was up RUB70bn , or 8%, and commissions and fees, up RUB36bn , or + 12%, as well as a decrease in expenses on reserves from RUB277bn to RUB115bn .
Among the negative factors was a decrease in income from the revaluation of foreign currency from RUB211 to RUB39bn.
In March, the number of profitable banks increased significantly (from 233 to 248). Moreover, the share profitable banks in the first quarter of 2021 accounted for 98% of the sector's assets.
90 RUSSIA Country Report May 2021 www.intellinews.com