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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
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Russia’s healthcare expenditure grew significantly in 2020, mainly reflecting increased spending related to the COVID-19 pandemic. Total spending on healthcare surged by nearly a fifth to RUB 6.2tn in 2020, equal to 5.8% of the country’s ...
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Russia holds the world’s largest natural gas reserves, equivalent to a fifth of the global total. In 2020, the country ranked second in terms of gas production falling behind only the US, contributing 17% to the global gas output. The vast gas ...
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Emerging Europe’s role in the global oil and gas sector stems mainly from the region’s heavyweight, Russia. The other countries in the region – Romania, Poland and Turkey – do not have significant oil and gas resources. 2020 ...
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