Russian banks' net profit falls 5.9% in September on lower non-core income

Russian banks' net profit fell 5.9% month-on-month to 414 billion rubles in September, driven by a reduction in non-core income. The decline is modest and follows a period of strong profitability, suggesting a normalization rather than a systemic stress. The data signals a slight cooling in the banking sector's earnings momentum, which may reflect broader economic softening.

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