STRATEGIC DIRECTIONS OF THE RUSSIAN BANKING SYSTEM DEVELOPMENT

Abstract

A significant excess in the growth rate of banking assets over the growth rate of nominal GDP has led to structural imbalances and increasing risks in the real sector of the economy and in the ban k i n g system. T he tight monet ar y policy and the aspiration towards strengthening of systemically important banks may not be justified due to the regional peculiarities of the Russian banking sector. The number of banks with revoked licenses is growing with every month. Especially heavy such policy may affect regional banks focused on the lendi n g to sm al l and medium-si zed busines ses. C om mercia l ban k s have to build new strategic directions of theirs development towards virtualization of ban k ing ser vices via the u sa ge of new f i n ancia l tech nolog ies. T he qu a l it y of ser vices should increase even in the light aggressive reduction of the number of credit institutions in the regions of Russia.