Published on: 2026-04-14
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
During 2016–2025, the assets of the Russian financial sector increased by almost 3.5 times, outpacing inflation. At the same time, non-credit financial organizations (NCFOs) grew faster than banks. However, the latter still hold the main share of the market.
Since 2019, the development of NFO has been facilitated by a significant inflow of citizens’ funds into the financial market. The COVID-19 pandemic, the development of remote sales channels and internet banking, the increase in overall financial literacy have stimulated growth in segments such as brokerage services, mutual investment funds (PIFs), life insurance, and trust management.
In the banking sector, resilience has increased over 10 years due to improvements in risk management quality, reduction of weak players, and the introduction of digital technologies. This has allowed banks to avoid greater losses during crises.
Read more in the review“Russian financial sector”By 2025.
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