Importance Despite a large number of researches devoted to the assessment of banking sector competition, the article's topic retains its relevance today. Most of analysis methods of competition provide loose results, while the changes happening in the banking sector of Russia (implementation of the Basel-III requirements, banks resolution, etc.) and the various external factors (for example, the imposition of the Western sanctions against Russia) can seriously affect the competition in the financial sector. Objectives The paper analyzes the main methods of the interbank competition evaluation, and determines advantages and shortcomings of their use. Methods I consider the direct estimation techniques on the basis of calculation of the Lerner Index, Panzar-Ross Model, and Bresnahan Model, Mason paradigm, and concentration indices. An individual unit of study focuses on factors that have an impact on the banking sector competition. I underline the importance of the research goal: not only properly select a method by which one can get an adequate assessment of competition between market participants, but also it is necessary to take into account the maximum number of aspects that could be reflected in the financial sphere. Results I conclude that the evaluation of competition in the Russian modern banking market is a very difficult problem because the market is experiencing a difficult stage of development. Conclusions and Relevance While analyzing the competition, it is necessary to consider the influence of various, often multidirectional, external and internal factors, which impact the situation developing in the banking sector. Because of that, competition should be evaluated taking into account the specifics of each particular bank while assessing the situation evolving in the country and in the world, in general.
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