Banks’ Financial Performance in 2021

In 2021, the profit of the banking sector hit a record Rb2.4 trillion. The achievement of this high indicator was influenced by several factors: the aggressive banks’ policy in the credit market; reduction of provisioning costs due to a low share of overdue loans; growth of commission income on intermediary operations. An increase in the Central Bank key rate led to higher funding costs and a negative revaluation of part of investments in the securities market, which slowed down profit growth in Q4