Problems of the Banking System of the Russian Federation in Modern Conditions

Abstract

This study describes the factors that have a negative impact on the development of the Russian banking system. The article examines the main areas of activity of banks, its structure. Also, the article shows the interrelation of the elements and notes an important role in the development of the country’s economy. In the article, we conclude that it is necessary to formulate and implement priority directions for the development of the banking system aimed at deepening communication with industrial enterprises and the processes of modernising the real sector of the economy. The banking system of the country functions in rather difficult conditions in connection with the influence of external and internal factors. This is adversely affected by the trends of global financial crises and low (in some periods, negative) rates of development of the national economy. Despite this, the Russian Federation now has a developed and efficient banking system. The main indicators of the banking sector show growth. In 2017, the assets of the banking sector increased by 9%. Loans to the economy grew by 6.2%, including loans to non-financial organisations—by 3.7%. Loans to individuals increased by 13.2%.