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Financial Services Report Russia 1st Quarter

  • ID: 2139179
  • February 2016
  • Region: Russia
  • 24 Pages
  • The Economist Intelligence Unit
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Russia's banking system, while relatively large, is dominated by the state. Pressures on the banking system have increased significantly in the past two years as a result of recession and international sanctions related to the seizure of the Ukrainian region of Crimea. The country lacks significant institutional investors because of the limited development of insurance and asset management activities, and of a private pension system. This hampers the development of the securities market.

The industry identified as "financial intermediation" generated 4.3% of overall economic output in the third quarter of 2015, according to the Federal State Statistics Service (RosStat). It employed 1.31m persons, or 1.9% of the employed labour force, in 2014 (latest data available). However, large cuts in staff are expected in response to the current economic and financial crisis.

Russia's financial sector has endured a difficult two years, with both the short-term economic growth outlook and long-term investor sentiment appearing to be bleak. The sector was affected by large capital outflows in 2014, which, worryingly for the long-term economic outlook, predated the current political READ MORE >

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Financial Services Report Russia 1st Quarter

Financial services report
Overview

Banks

Insurers

Asset managers

Financial markets and instruments

Financial regulation
Overview
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Russia at a glance

Fundamental indicators

Key contacts

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Note: Product cover images may vary from those shown

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