The Central Bank of Russia released its Review of the Russian Financial Sector for 2024, reporting that growth in financial institutions’ assets slowed amid tight monetary conditions, while profitability improved for most Russian financial institutions. Banks continued to record the highest asset growth. At the same time, assets at non-bank financial institutions grew dynamically where they offered products such as money market exchange-traded funds and short-term life insurance policies delivering returns comparable to bank deposits. The proportion of brokerage clients’ assets in total assets declined, and management companies remained the most profitable non-bank financial institution segment in 2024.
Central Bank of Russia 2025-04-14
Central Bank of Russia publishes 2024 financial sector review showing slower asset growth and improved profitability
The Central Bank of Russia's 2024 review highlights a slowdown in asset growth for financial institutions due to tight monetary conditions, while profitability improved. Banks led in asset growth, with non-bank financial institutions also seeing dynamic growth in specific products. Management companies were the most profitable non-bank segment, despite a decline in brokerage clients' asset proportion.