Though commercial banks are rather new for Russia, and the banking sector has undergone hard times, nowadays it is one of the most advanced industries and follows the world’s most progressive development trends. The environment is more complex than that of more advanced economies with entrenched market mechanisms, however, the current potential stimulates stable positive growth. According to the Regional Banks Association, the profitability of Russian banks in 2001-2007 outran both other industries of the country and the performance of foreign competitors. A number of international public offerings were made, resulting in banking capital funds growth and individual depositors increase. However, there are a number of peculiarities. Large companies with state participation such as Savings bank, VTB, Gazprombank account for the main growth indicators. Over the last 5-7 years, banks have become more active in stimulating economic growth. As of 01.01.2008, the corporate loan portfolio amounted to 26.5% of the GDP, which causes the banks to contribute to finance working capital and investment projects in some regions. This dynamics is related to active investment and consumer financing. Creating an organization model of credit risks management is half-way to successful development of the banking sector. It is of vital concern for credit risks control when products and services are being developed.
Keywords: financial and credit policy, credit risks management, strategy of money-and-credit development
