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Russian banks reap record profits in 2024, helped by high rates and loan growth - Blue Water Healthy Living

Summary by Blue Water Healthy Living
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Russian banks made record annual profits of 4 trillion roubles ($40.7 billion) in 2024, the central bank said on Thursday, as Russia’s financial sector continued to rebound from sanctions, riding a wave of high interest rates and solid loan growth.      The central bank’s high key rate, now at 21%, has boosted banks’ net interest margins, but lending growth is starting to slow as soarin…
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