Page 63 - RusRPTNov18

8.1.1 Earnings
In September the profits of the Russian bank sector over the first nine months of 2018 reached RUB 1.1 trillion, up 58% y/y due to the creation of significant provisions by banks under sanitisation in September 2017. In m/m terms the profits of the bank sector were just under RUB200bn in September -- the second best month this year after March (RUB235bn).
8.1.2 Loans
The CBR has published the banking sector statistics for September 2018. Retail loans grew 21.6% y/y and corporates 9.4% y/y. However, in the corporate segment, loan growth (adjusted for the 13.1% y/y weaker RUB) was only 5.7% y/y.
Russian consumers took a record amount of loans to service old debts in the first half of 2018: RUB68.3bn, which is 1.7 times more than the same period last year.
63 RUSSIA Country Report November 2018 www.intellinews.com