RUSSIAN BANKING SECTOR: CURRENT STATE AND DEVELOPMENT TRENDS

Author(s): Gavrilova E.N., Danaeva K.L.

Rubric: Economy

DOI: 10.21777/2587-554X-2021-1-7-14

Release: 2021-1 (36)

Pages: 7-14

Keywords: banking system, key rate, monetary measures, lending, coronavirus, loans, deposits

Annotation: The article examines the issues of functioning and development of the country’s banking sector at the present time. It is noted that the banking sector is the most important part of the country’s financial system. One of the most important tasks of the banking sector is to ensure the uninterrupted service of the national payment system, to ensure the safety of depositors ‘ funds, and to transform these funds into loans to the economy. The article analyzes the structure of assets of Russian banks, the main place in which is occupied by lending to the real sector of the economy, estimates the volume and growth rate of lending to legal entities and individuals, analyzes the dynamics of deposit operations. Attention is drawn to the key trends in the development of the banking sector, which is changing the very paradigm of the functioning of credit institutions and the provision of their services. At the same time, the article concludes that despite all the difficulties, the Russian banking system has quite successfully passed all the tests. As a result, the Russian banking sector showed generally high growth rates in 2020.

Bibliography: Gavrilova E.N., Danaeva K.L. RUSSIAN BANKING SECTOR: CURRENT STATE AND DEVELOPMENT TRENDS // Economics and Management. – 2021. – № 1 (36). – С. 7-14. doi: 10.21777/2587-554X-2021-1-7-14