The ten largest banks lost 197 billion rubles in 2022

According to RBC, referring to analysts of the Expert RA rating agency, the ten largest Russian banks by assets significantly worsened the financial result for the entire sector, showing a loss of 195 billion rubles against the profit of other players at the level of 400 billion rubles. A year earlier, the top 10 credit institutions accounted for 83% of the total profit of credit institutions - 1.9 trillion rubles out of a record 2.2 trillion rubles. 

The financial result of the sector last year was provided by banks, which occupy from 11th to 100th place in terms of assets, earning 360 billion rubles. This is 10.8% more than the result of 2021.

According to analysts, this happened "due to the flow of customers from the largest credit institutions, the lack of complex market instruments and specialization in small and medium-sized businesses, where there was no significant increase in the cost of risk". The profit of banks outside the first hundred fell by 12.5%, to 35 billion rubles due to the "gradual organic loss of business". 

At the same time, according to the "Review on the Development of the Banking Sector", it is said that in the second half of the year, banks managed to recover losses from the beginning of last year and make a profit of 203 billion rubles. This became possible due to the gradual recovery of income against the background of business growth.

However, not all banks managed to get out of the crisis. According to the results of last year, the share of profitable banks was 77%, whereas in 2021 it was 98%.