NFIs record faster asset growth over last decade vs banks
Over 2016–2025, assets of the Russian financial sector increased almost
NFIs’ advancement was driven by a significant inflow of household funds into the financial market since 2019. The COVID-19 pandemic, the development of remote sales channels and online banking, as well as a higher level of general financial literacy contributed to the expansion of brokerage services, unit investment funds, life insurance, and trust management.
The banking sector became more resilient over the last decade due to better risk management, the withdrawal of weaker market participants, and the implementation of digital technologies. This helped banks avoid major losses during crises.
More details are available in the review Russian Financial Sector for 2025.