Diversification of the concept of foreign economic activity of russian banks in the new economic conditions Yulia S. Polozhentseva1

Relevance. Russian banks actively participate in international trade and economic relations. However, taking into account geopolitical and economic changes, such as sanctions and changes in trade blocs, banks need to develop strategies for effective expansion of their activities at the international level. Business planning for the geographical development of foreign trade will help banks to adapt to new market conditions, determine optimal strategies and resources for the development of export-import operations, as well as minimize risks and increase competitiveness on the world stage.. The purpose is to conduct a comprehensive study of the possibilities of geographical development of the foreign economic activity of Russian banks.. Objectives: analyze regional markets for their potential; to determine the main advantages and disadvantages of the activity of foreign trade of Russian banks; will identify the peculiarities of the bank's exit to the new dawn within the framework of foreign trade, draw up a business plan and determine the criteria for the success of the project. Methodology. In the process of research, general scientific methods of logical and statistical analysis, field research, as well as qualitative and quantitative analysis were used. Results. 10 Russian banks, their foreign trade development strategy and future prospects were considered. The regions in which the opening of a bank branch will be the most successful for foreign trade have been identified: Tatarstan, Primorsky Krai, Kaliningrad Oblast, Yekaterinburg. A business plan for entering a new regional market for a bank with a focus on foreign trade has been drawn up, taking into account industry specifics. Conclusion. The foreign trade development strategy allows banks to expand their client base, increase their global presence and provide their clients with access to international financial services.

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Publication Details

Journal
Proceedings of the Southwest State University Series Economics Sociology and Management
Published
2024-08-05
DOI
https://doi.org/10.21869/2223-1552-2024-14-3-35-51
Primary Topic
Economic and Technological Developments in Russia
Type
article
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article

Diversification of the concept of foreign economic activity of russian banks in the new economic conditions Yulia S. Polozhentseva1

Yulia Polozhentseva, I. O. Logvinova
Proceedings of the Southwest State University Series Economics Sociology and Management
Economic and Technological Developments in Russia
article

Diversification of the concept of foreign economic activity of russian banks in the new economic conditions Yulia S. Polozhentseva1

Yulia Polozhentseva, I. O. Logvinova
article en

Abstract

Relevance. Russian banks actively participate in international trade and economic relations. However, taking into account geopolitical and economic changes, such as sanctions and changes in trade blocs, banks need to develop strategies for effective expansion of their activities at the international level. Business planning for the geographical development of foreign trade will help banks to adapt to new market conditions, determine optimal strategies and resources for the development of export-import operations, as well as minimize risks and increase competitiveness on the world stage.. The purpose is to conduct a comprehensive study of the possibilities of geographical development of the foreign economic activity of Russian banks.. Objectives: analyze regional markets for their potential; to determine the main advantages and disadvantages of the activity of foreign trade of Russian banks; will identify the peculiarities of the bank's exit to the new dawn within the framework of foreign trade, draw up a business plan and determine the criteria for the success of the project. Methodology. In the process of research, general scientific methods of logical and statistical analysis, field research, as well as qualitative and quantitative analysis were used. Results. 10 Russian banks, their foreign trade development strategy and future prospects were considered. The regions in which the opening of a bank branch will be the most successful for foreign trade have been identified: Tatarstan, Primorsky Krai, Kaliningrad Oblast, Yekaterinburg. A business plan for entering a new regional market for a bank with a focus on foreign trade has been drawn up, taking into account industry specifics. Conclusion. The foreign trade development strategy allows banks to expand their client base, increase their global presence and provide their clients with access to international financial services.

Proceedings of the Southwest State University Series Economics Sociology and ManagementVol. 14(3)
Southwest Minnesota State University (US)
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Openalex Percentile: Top 75%
Economic and Technological Developments in Russia
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Diversification of the concept of foreign economic activity of russian banks in the new economic conditions Yulia S. Polozhentseva1 — Yulia Polozhentseva, I. O. Logvinova · Proceedings of the Southwest State University Series Economics Sociology and Management (2024) | TGRS Research Map | TGRS