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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.
The large size of the Russian population offers strong growth opportunities to the insurance companies but the sector remains underdeveloped mainly because of the low income levels in the country and the limited awareness of the benefits of insurance ...
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The Russian banking sector is slowly recovering from the serious blow it suffered in 2015-2016, when the economy swung into a recession triggered by low oil prices and Western sanctions in response to Russia’s annexation of the Crimean ...
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The Russian electric power sector is of strategic importance for the government, which controls key assets in the power system. The sector generated 2.6% of the country’s gross domestic product (GDP) and employed 2.4% of the workforce in 2017. ...
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Russia’s mining and quarrying sector is a key industry in the country’s economy with the value of production equal to 15% of the nominal GDP in 2017. In Russian statistics, the sector includes extraction of oil and gas, the ...
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Despite the country’s vast territory, favourable geographic position and wide range of potential tourist attractions, Russia’s tourism and leisure sector remains underdeveloped. The direct contribution of travel and tourism to ...
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The Russian metal processing sector is a major supplier for the global market. The country is the second-largest producer of aluminium, supplying 6% of global production in 2017, and the fifth-biggest crude steel producer, accounting for 4 ...
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The consumer goods and retail sector is an important part of the Russian economy and a significant driver of the country’s GDP growth. The sector generated 13% of the GDP in 2017 and employed more than 13.5mn people, or almost a fifth of the ...
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Russia’s construction sector plays an important role in the country’s economy, generating 5.7% of the gross domestic product (GDP) in 2017 and employing over 7% of the workforce. The economic downturn of 2015-2016 had a severe ...
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Serving a population of nearly 147mn, Russia’s ICT market ranks as one of the largest in the world, offering telecommunication companies significant potential for growth. The Russian ICT market is highly centralised and dominated by ...
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With a population of nearly 147mn people, Russia ranks the ninth most populous country and the largest by territory in the world. That alongside Russia’s favourable geographic position and the wealth of natural resources predetermine ...
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