Challenges to the Financial Stability of the Russian Banking Sector in 2020-2024

The structure of the Russian banking system is currently based on a group of 5 major credit institutions (CIs). They concentrated 66.5% of banking assets; the banks ranked 6th to 10th by asset size account for about 13.5%. Russian banks are actively looking for ways to improve their competitiveness, efficiency and financial stability. Over the past five years, banks have faced external crisis factors, including financial sanctions from leading economically developed countries. The article reveals a set of current financial risks and methods of managing these risks used by Russian banking institutions. Much attention is also paid to the increased role of the Bank of Russia as a regulator of financial markets and to the instruments of supervision and regulation of the banking sector. The interaction of market institutions and regulatory bodies has made it possible to maintain financial stability in the Russian economy, despite numerous challenges.