... the growth rate of net profit can be primarily attributed to increased expenses – particularly the rise in provisions and tax contributions – which partially offset the strong growth in operating income. High Capital Profitability The bank maintains ... ... rubles, -1% year-on-year). There is a steady increase in fees from banking card transactions and payment services; however, the impact of last year's high base and a slowdown in business activity in the second quarter limited total fee growth. Overall, the ...

... population's income has been weak, and amid inflation, consumers are approaching large purchases more cautiously. A car is a significant expense, and people tend to postpone such expenditures. Impact on the Russian Economy 1. Decreased Demand for Cars and Its Impact on GDP The decline in car sales directly affects the Russian GDP. The automotive industry is one of the key sectors providing jobs, tax revenues, and investments in related industries. A sales volume reduction of 21-30% may lead to decreased production, layoffs, and a drop in tax revenues to the budget. 2. Rising Car Prices and Inflationary Pressure The indexation of car prices in ...

... penalties and the loss of some accrued interest. However, inflation and the dynamics of the key rate set by the Bank of Russia impact real yields—historically, the purchasing power of ruble deposits has declined. For instance, over the last decade, real ... ... deposit holders has decreased by almost 18%. Taxation. Starting in 2024, interest on deposits is subject to personal income tax (PIT) of 13% above a tax-exempt threshold. This threshold equals 1 million ₽ multiplied by the maximum key rate for the ...

... formula to support oil refining and keep prices at gas stations in check). Furthermore, there are discussions on reallocating the tax burden on the oil sector: for instance, excessively rapid increases in fuel excise duties could be slowed to avoid adding ... ... that manual intervention has its limits: without systemic changes, the same reactive measures need to be revisited every year. Impact on Fuel and Oil Companies, Consumers Oil Companies and Refineries: For vertically integrated oil companies that own oil ...

... Raising taxes on corporations and high-income individuals could boost revenue and partially offset the deficit. However, higher taxes may reduce business activity and economic growth. Still, increased revenue could help stabilize the debt in the short term.... ... particularly in social programs and infrastructure, could lower the deficit. However, these measures are often controversial and may impact citizens' quality of life, employment levels, and social stability. Issuing Additional Government Bonds Offering government ...