Assets of Russian NFOs grow 32% y/y to RUB 905 bn in Q2 2016

Assets of Russian NFOs grow 32% y/y to RUB 905 bn in Q2 2016

The combines assets of non-banking financial organizations (NFOs) licensed as securities providers in Russia exceeded RUB 905 billion (some $14.5 billion) in the second quarter of 2016, posting an annual increase of 32%, the Central Bank of Russia (CBR) said on Tuesday. The ratio of asset to GDP for such NFOs remained flat at 1.1%.

The combined net profit of Russian NGOs since the beginning of the year also posted a significant annual increase of more than one third to RUB 9.7 billion, mainly due to the increase in operating and interest income.

Meanwhile, the number of clients of NFOs in Russia went up by just 1.5% on the year to 1.4 million in the April-June period. The share of active clients is 13%, while retail clients made up 97% of all.

The CBR is in charge of the supervision of the Russian forex market, which is regulated in the country since the beginning of 2016. So far, there are just four forex brokers licensed by the CBR – Finam Forex, TeleTrade, TrustForex and VTB24 Forex. The bank recently announced it intends to come up with a stance on the regulation of binary options trading in the country (which are not regulated) by the end of 2017.

USD = RUB 62.56

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