The pandemic and the banking sector: a new economic reality

Ushanov Alexander

As a result of the complication of the situation in the non-financial sector of the economy due to COVID-19, the volume of economic activity of a number of major Russian companies in 2020 significantly decreased, which led to significant losses, an increase in overdue loans, etc. In the banking industry, which, although it retained important parameters of its work, there was a stagnation of the main financial indicators against the background of a decline in economic activity. In order to restore the economy as soon as possible against the background of the coronavirus pandemic, the Central Bank of the Russian Federation and the Government have adopted during 2020 a number of regulatory eases in the banking sector, including those aimed at supporting small and medium-sized businesses. However, the question of the degree of readiness of credit institutions to exit the regime of easing remains relevant. The article substantiates the need for a smooth exit of credit institutions from the regime of regulatory easing, analyzes the experience of accelerated digital transformation of banks against the background of the pandemic, and formulates priority tasks and directions for the development of the industry in the post-crisis period.

Keywords:coronavirus pandemic, regulatory easing, Bank of Russia support measures, loan portfolio quality, post-crisis period.