Banking sector in the context of international sanctions: assessment of activities and prospects for development

Abstract

The relevance of this article lies in the fact that at present the modern banking system constantly needs the protection of vital interests, which is formed through the implementation of economic, socio-psychological, legal, organizational, technological and other activities of a credit institution. Therefore, the main task of the economic security of the banking sector is to provide protection from the influence of external and internal factors that can harm the bank. At the same time, the management of economic security should be aimed at achieving the financial stability of the bank and the main indicators of its assessment should be related to the results of monitoring the financial activities of the credit institution.The purpose of the research is to substantiate the need to assess the impact of international sanctions on the economic security of the banking sector and to increase its level on the example of Sberbank through the development of methodological and practical recommendations and proposals. The objectives of the researchare to clarify the concept of "economic security of the bank", to consider its elements, to identify and classify threats to the economic security of the banking sector, to conduct a study of the state of Sberbank under international sanctions, as well as to determine the prospects for its future activities and to develop a strategy for the development of the banking sector of Russia. The results of the research. The concept of "economic security of the bank" is clarified, the elements of its components are defined. Based on the analysis of the financial results of Sberbank and its competitors, as well as a result of the assessment of the impact of international sanctions on the bank’s activities, a number of problems faced by Sberbank when introducing external economic sanctions were identified and recommendations and measures were developed for its activities in modern conditions. These recommendations are applied in nature and can be used by commercial banks of the entire banking sector.