The banking system in Russia

Russian banking system
Teacher: Avezov Elbek
Performed by: Karimov Diyorbek
The banking system in Russia
The Russian banking system comprises of two parts: the central bank and commercial banks. The Bank of Russia supervises the country’s banks and lending institutions and issues banking licenses. As of May 2021, there are 350 banks operating in Russia – 239 have a universal license (available to banks whose equity exceeds 1 billion p.), while 111 smaller banks have a basic license.
The banking system in Russia isn’t up to the technological standards of some of its Western counterparts, though the industry has made significant strides in recent years.