Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

Covid-19 casts shadow over Russian bank reform push

Pandemic has slowed the completion of key bank reforms as regulators focus on emergency measures to prop up the economy.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Covid-19 casts shadow over Russian bank reform push

Russia’s efforts to reform its banking system, which were nearing completion, have suffered a setback from the Covid-19 pandemic, which has forced regulators to slow down their clean-up of the industry.

In common with other jurisdictions, Russia’s regulators rushed out a raft of measures in March to support the economy during the pandemic, such as the temporary easing of capital requirements for banks. Certain companies and individuals were allowed to take loan payment holidays, and the state has provided some fiscal support.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial