Page 116 - RusRPTApr23

for Russian exports in 2022 jumped to 16% from 0.5%, the ruble - to 34% from 12%. The share of the yuan in payments for imports rose to 23% from 4%.
In the meantime, the share of the ruble in payments for imports slightly decreased - from 29% to 27%. At the beginning of 2023, the share of currencies of other friendly countries in Russia’s foreign economic activities was 4%.
8.0 Financial & capital markets 8.1 Bank sector overview
Russian banks’ liquidity assets totaled around RUB18.9 trillion ($244.6 bn in February, the Central Bank reported on March 22.
"This is an adequate level sufficient for covering 26% of clients’ funds in and 58% of individuals’ funds. Another 8.6 trillion sufficient for covering 12% of clients’ funds may be raised by banks with the Bank of Russia on the security of non-marketable assets. Consequently, available sources of liquidity cover up to 37% of clients in rubles," the report said.
In total, the liquidity cushion in gained RUB1 trillion ($13 bn in February despite a RUB1.2 trillion increase in credit portfolio.
That said, the banks’ liquidity cushion in foreign currency in the amount of $60bn is also at an adequate level, with around 49% of clients’ funs and 29% of currency liabilities covered, the regulator added.
The share of cashless payments for goods and services in the Russian retail turnover moved up from 73.4% in 2021 to 78.1% in 2022, the Central Bank said in its annual report. Cashless transactions made by credit institutions under orders of their customers and their own transactions surged by 13.2% in terms of quantity and by 32.4% by volume over the year and amounted to RUB79.5bn payments totaling RUB1,592.3 trillion rubles ($20.6 trillion)," the Central Bank said.
The CBR reported a staggering 27-fold increase in losses from RUB26.3bn ($339.9mn) in 2021 to RUB721.7bn ($9.3bn) in 2022. This information was revealed in the bank's annual report. In addition to the significant increase in losses, the bank's assets have also decreased from RUB52.4 trillion ($677.5bn) in 2021 to RUB47.2 trillion ($610.4bn) in the last year.
The combined net profit of Russia's banking sector in 2023 is expected
116 RUSSIA Country Report Russia April 2023 www.intellinews.com