UK Markets close in 5 hrs 32 mins

Russian banks' profits reached 258 billion roubles in Jan - central bank

FILE PHOTO: A view shows Russia's Central Bank headquarters in Moscow

MOSCOW (Reuters) - Russian banks' profits totalled 258 billion roubles ($3.38 billion) in January, 1.5 times higher than in the same month of 2022, Russia's central bank said on Monday.

Alexander Danilov, director of the central bank's banking regulation and analytics department, said last month Russian banks' profits could exceed 1 trillion roubles in 2023.

Banks' corporate credit portfolio shrank by 140 billion roubles in January, while their forex portfolio grew by 0.3%, the Bank of Russia said.

Banks gradually increased investments in OFZ treasury bonds in the same month, buying around two-thirds of bonds on offer, it added.

($1 = 76.2455 roubles)

(Reporting by Elena Fabrichnaya and Alexander Marrow; Writing by Marina Bobrova; Editing by Jan Harvey)