system, it is very important to look at the total south africa telegram data profit for two years. Last year, the banks’ profit was 200 billion rubles, it fell almost tenfold. In the economy as a whole, it fell by about 10%. Why did this happen? Because banks were quite conservative – and this was correct – in creating reserves. They created reserves, expecting that some loans would stop being serviced, that a large part of companies could get into a difficult situation. But since the economy is growing, loans are being serviced, and banks assess borrowers as sufficiently solvent, they have been disbursing these reserves this year.
If we take it over two years, the average
profit will probably be 1.7–1.8 trillion rubles. This is about a quarter less than the quiet year of 2021.
But profit will naturally remain positive next year, even without taking into account one-off factors. And this will allow banks to increase capital. They have virtually no other sources, external sources are closed, and profit is the main source of capital. And capital is needed to lend to the economy, without capital it is impossible to increase loans. Therefore, banks will remain profitable and will continue to lend to the economy.
— Even at today’s rates?
— Even at current rates. We see that current rates are leading to a certain slowdown in lending. I have already spoken about market mortgages, unsecured consumer lending. The first signs have appeared in corporate lending. But due to high tell stories andinflation expectations, people and businesses take out loans because they believe that inflation will be high. Therefore, inflation expectations are very important to us, we are monitoring this. But we america email expect that next year, of course, the rate of growth of loans will not be as record-high as this year, but it will be positive. In general, for the economy, it is somewhere around 5–10%.