July 17, 2018 / 2:06 PM / a month ago

Russian banking sector profit hit by bailouts in the first half: central bank

MOSCOW (Reuters) - The overall profit of the Russian banking sector was curtailed in the first half of the year by the authorities having to bail out troubled lenders, the central bank said on Tuesday.

FILE PHOTO: A woman holds new 200 and 2,000 rouble banknotes in a bank in Moscow, Russia November 21, 2017. REUTERS/Maxim Shemetov

Russian banks made a combined 634 billion rubles ($10.1 billion) in net profit in the first six months of the year, the central bank said.

If it had not had to bail out several lenders, the central bank said the sector would have made 880 billion roubles in net profit in January-June.

Reporting by Andrey Ostroukh; Editing by Hugh Lawson

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