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8.0 Financial & capital markets 8.1 Bank sector overview
Corporate lending accelerated in September, while retail lending remained a consistently high growth rate, which on the funding side was supported by a significant inflow of funds from organizations. Funds of the population also increased markedly against the background of significant additional social support for pensioners. It is also worth noting that it was time deposits that increased to a greater extent, reflecting the increase in deposit rates.
Public funds increased moderately, mainly due to the placement of additional funds in banks by the Federal Treasury.
Banks continue to earn record profits despite the slowing economy. All the prudential ratios remains a very healthy RUB196bn ($2.73bn).
8.1.1 Earnings
88 RUSSIA Country Report November 2021 www.intellinews.com
The sector's net profit in September amounted to RUB196bn ($2.73bn).
The return on capital was a high 20% in annual terms, which is almost 20% lower than in August, or RUB244bn.
