Banking competition and its development in Russia

• Main Author: Korobov Yury
• Format: Article
• Language: English
• Published: EDP Sciences 2019-01-01
• Series: SHS Web of Conferences
• Subjects: banking system; banking market; banking competition; banking product; methods of competition; factors of competition; financial globalization; digitalization of economy; banking culture
• Online Access: https://www.shs-conferences.org/articles/shsconf/pdf/2019/02/shsconf_ies2018_01009.pdf

The article discusses theoretical issues of banking competition as well as its ifluences on the development of banking system (transformation of the essence of a bank; change of the target setting in banking; transfer of emphasis from operations to services; universalization of banking; transition from individual services to integrated banking products; change of priority from price to non-price methods of competition; transition from extensive to intensive type of network development; increasing the role of near-banks and nonbank banks). Factors influencing banking competition in Russia are shown: both restraining (reduction in the number of banks; concentration of assets at the largest banks; uneven territorial distribution of banks; local character of banking markets) and strengthening (financial globalization; digitalization of economy; forming of new banking culture).