Russian banks will face tougher conditions in 2024
Banking sector profitability surged from RUB199bn (USD2.2bn) in 2022 to around RUB3.3tn in 2023
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In this article
- Profits soar across the sector
- State-owned banks lead the way
- Credit issuance remained strong throughout 2023
- High interest rates will dampen credit growth in 2024
- High interest rates will dampen profitability in 2024
- Outlook
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