The Central Bank of Russia will make profits this year similar to 2023 – President – Business and Economy

MOSCOW, 19 November. /TASS/. Governor Elvira Nabiullina, in her statement at the plenary meeting of the State Duma, the lower house of the Bank of Russia, said that the Bank of Russia will make a profit comparable to last year by the end of this year, with the funds to be transferred to the federal budget. Russian parliament.

“According to the results of 2023, we made a profit in 2023 by transferring 105 billion rubles ($1.04 billion) to the budget in 2024. But now we see that we will make a profit comparable to last year. The funds will be transferred to the budget according to the procedure,” he said.

Nabiullina noted that one of the reasons for the increase in the Central Bank’s profits is the increase in revenues from operations, for which banks receive funds from the regulator to meet standards. “There is no risk transferred to the banking system regarding the profit or loss of the Central Bank. Whether the Central Bank makes a profit or a loss does not affect the stability of the banking system. I would like to remind you that making a profit does not affect the stability of the banking system. Just like any central bank in the world, it does not affect the stability of the banking system. “As such, it is not the target of the operations of the Bank of Russia,” he added.

The profit of the Central Bank of Russia amounted to 140.4 billion rubles ($1.4 billion) in 2023.