Page 87 - RusRPTJun21

So far this year banks have outperformed last year every month except January on a month-on-month basis but only overtook the performance of last year in April on a cumulative basis thanks to the particularly poor performance of banks last April when the pandemic kicked in. Nevertheless, even on a cumulative basis banks profit performance over the first three months of this year was very similar to that of 2020.
With a year of strongish economic growth ahead and a flourishing corporate sector, where Russia’s corporates are currently earning their strongest profits in five years, the outlook for the banking sector is good for 2021.
87 RUSSIA Country Report June 2021 www.intellinews.com