MOSCOW, September 22. /TASS/. The Russian banking sector earned 0.7% less in net profit in August than in July, at 440 bln rubles ($5.22 bln), according to materials from the Bank of Russia.

"The sector’s net profit remained virtually unchanged in August at 440 bln rubles (-3 bln rubles, or -0.7% compared with July). Annualized return on equity was roughly the same as in July, at around 24%," the review said.

Funds held by corporate clients at Russian banks rose by 1.9% in August compared with July to 66.9 trillion rubles ($793.59 bln), the Bank of Russia said. "Corporate funds increased by 1.2 trillion rubles, or 1.9% (+0.6% in July). The increase was primarily driven by balances in ruble-denominated current accounts (+4.7%) held by oil and gas and energy companies," the regulator said.

At the same time, funds held by individuals at Russian banks declined by 0.2% in August to 68.5 trillion rubles ($812.57 bln). "Household funds decreased slightly in August (-0.1 trillion rubles, -0.2%, following +0.3% in July), which may be attributable to spending on vacations and preparations for the school year that is typical for this month," the regulator said.