DYNAMICS OF CAPITAL CONCENTRATION AND CENTRALIZATION IN THE BANKING SECTOR OF RUSSIA (2010–2024)

This study investigates the dynamics of capital concentration and centralization in Russia's banking sector from 2010 to 2024. Based on calculations of the CR-3, CR-5, CR-10 coefficients and the Herfindahl-Hirschman Index (HHI) using Bank of Russia data, it reveals a steady increase in monopolization: the asset share of the top three banks rose from 53% to 66.9%, and the HHI exceeded the threshold for high concentration (reaching 0.251 in 2024). Key drivers of these processes include sanctions pressure (2022), service digitalization, and the state's active role in supporting systemically important banks. The analysis confirms the formation of an oligopolistic model exhibiting characteristics of "state-oligarchic capitalism" and identifies negative socio-economic consequences: heightened regional inequality in financial resource distribution, constrained credit access for small businesses and households, and increased systemic risks. The study substantiates the need for reforms encompassing financial system decentralization, stimulation of regional competition, and stricter antitrust regulation to ensure balanced economic development.