Page 80 - RusRPTDec21

8.1.1 Earnings
The sector's net profit in October amounted to RUB231bn with a return on capital of 23.8% in annual terms, which is 18% higher than in September (RUB196bn).
Profit growth mainly was attributed to the restoration of reserves in connection with the settlement of distressed assets and NPLs of non-core assets.
The number of profitable banks increased over the month to 248 from 244, however, following the results of 10 months the share of profitable banks in the sector's assets slightly decreased to 98 from 99%.
Banking sector earned RUB2.1 trillion in ten months (up 62% compared to the same period last year), about 85% of the profit was received by systemically important credit organizations (SZKO).
80 RUSSIA Country Report December 2021 www.intellinews.com