The Russian banking industry after the financial crisis where to next?

Abstract

The current financial crisis is unlikely to dramatically change the structural features of the Russian banking industry. The role of the state in the banking sector will increase rather than decrease after the crisis and the banking sector will continue to be very fragmented. There is a risk that if the large corporations have to turn to the domestic banking sector for finance instead of the international money market, they will crowd out small and medium-sized companies from access to bank finance. This would have a negative impact on economic growth in the long term.