Yearly revenue of Russian banks 2011-2020

The coronavirus (COVID-19) outbreak, along with the crude oil price sharp decline, was expected to leave a significant footprint on the Russian banking sector in 2020. Namely, the projected revenue of Russian banks for 2020 was forecast to measure between 1.2 and 1.3 trillion Russian rubles without taking into account IFRS-9*, as experts revealed.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated facts and figures page.

Annual revenue* of the banking sector in Russia from 2011 to 2020**

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Sources

Release date

March 2020

Region

Russia

Survey time period

2011 to 2019

Supplementary notes

* Without taking IFRS-9 into account.

IFRS-9 Is fully known as International Financial Reporting Standard and was introduced by the International Accounting Standards Board (IASB) in 2009 as a replacement for an earlier standard known as International Accounting Standard number 39.
IFRS-9 is particularly important to banks. It introduces prudence and consistency in the way in which financial instruments are recognised, recorded and presented. A lot of financial institutions have been known to inflate the value of their assets. IFRS-9 is meant to prevent that.

** Estimate between 1.2 and 1.3 trillion Russian rubles.

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Statistics on "The coronavirus disease (COVID-19) pandemic 2019-20"

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