S&P: Russian banks' net profit seen at 1.2–1.3 tln rbl in 2018

This year, Russia's banks's net profit is seen at 1.2–1.3 trillion rubles, according to S&P Global Ratings.

According to the agency's forecasts, in 2018 the net interest margin of Russia's largest banks will remain generally stable and will be close to last year's level. "According to our estimates, net interest margin reached 4.7% at the end of 2017 (according to IFRS) and, most likely, will drop to 4.0% by the end of 2019," Interfax cited the agency as saying. 

S&P expects that in 2018 "large Russian banks will continue cutting deposit rates against the backdrop of the expected decline in Russia's key rate."