The profit of the banking sector is distributed extremely unevenly among groups of banks: about 85% is accounted for by systemically important credit institutions. Georgy Luntovsky, President of the Association of Banks of Russia, spoke about this in an interview with Izvestia.
“For 10 months of 2021, the net profit of the Russian banking sector has already reached an all-time high of 2.1 trillion rubles. Net income and commission income of credit institutions grew, and also – deductions to reserves were reduced due to less delinquency by clients, ”he explained.
According to Georgy Luntovsky’s expectations, banks will invest a significant part of their profits in digital technologies that allow them to maintain the competitiveness of their business. In his opinion, credit institutions also need to invest in information security, since for many years banks have invested in this area on a leftover basis.
“It is also important that large banks have the resources to improve their information security, but the same cannot be said for small organizations. Therefore, the association has created a project group to launch IT outsourcing, including information security functionality, ”said the ADB President.
He expects that the work of the project team will bear fruit in 2022. In autumn, at the ADB site, the issue of including banks with a basic license in the system of measures to support small and medium-sized enterprises was discussed, but then the Central Bank did not support this initiative.
More details in an exclusive interview with Izvestia:
“Due to the quantitative limitation of loans,” black lenders “become more active
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