Home  Journals  Financial Analytics: Science and Experience  32(218) - 2014 August

Banking products market as the main source of economic growth in Russia

Available online: 19 August 2014

Subject Heading: BANKING SECTOR

JEL Classification: 

Pages: 54-62

The article points out that the banks play an important role in the economy, and they constitute the main institutions of redistribution of funds. Therefore, while fulfilling their regulatory function, the banks make an impact on the economy development, thus increasing the particular industry financing. The paper considers the Russian banking products market, which the main objective at this stage is to promote the country's economic development by means of the funds reallocation. The author makes an analysis of the dependence of the level of the Russian Federation GDP on the volume of the legal entities lending, including individual entrepreneurs. A detailed analysis of the key performance indicators of the banking products enabled to identify the main consumers of banking products and to define the reasons for their dominance in the structure of banking customers. The article determines the main directions of development of the banking products market aimed at a certain result, which include both the industrial society and the consumer society. The article analyzes the dynamics of lending of the natural and legal persons and identifies the priorities in an area of lending. The paper defines the main tasks of the banking products market, which are performed in the system of economic relations to promote the country's economic development. Based on this analysis, the author arrives at a conclusion about the need to strengthen the role of the Central Bank of the Russian Federation in the field of banking products regulation, to stimulate the creation and development of the innovative Russian banking system products and to establish a flexible financial system of the country, which should contribute to the financing and lending priorities of the socio-economic development of the country. The methods of the scientific knowledge: abstract and logical, structural, functional, statistical ones, and comparative analysis, graphical and theoretical modeling served as the methodological basis of the research.

Keywords: bank, redistribution, funds, banking product, function, credit, deposit

References:

1. Blizok li krakh mezhdunarodnoi valyutnoi sistemy? [How close is the collapse of the international monetary system?]. Available at: Link. (In Russ.)
2. Information portal of the Russian Union of Industrialists and Entrepreneurs. Available at: Link. (In Russ.)
3. Semenyuta O.G., Danchenko E.A., Panchenko N.O. Rynok bankovskikh uslug kak faktor ustoichivosti bankovskoi sistemy [The banking service market as a factor of the banking system stability]. Finansy i kredit – Finance and credit, 2014, no. 2, pp. 2–9.
4. Available at: Link. (In Russ.)

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