DEVELOPMENTAL TRENDS IN BROKERAGE ACTIVITIES OF COMMERCIAL BANKS IN RUSSIA

Abstract

The present work contributes to the study of the effectiveness of brokerage activities of commercial banks in Russia. To date, not enough attention has been paid to the specific features peculiar to credit institutions in the securities market and the development of factors affecting the effectiveness of their work. In this regard, this study seems relevant and significant. In modern conditions, with regular changes in interest rates and high lending risks, banks are trying to diversify their interest income. One of the ways to increase the share of non-interest income is the introduction of a line of brokerage services. In the future, brokerage activities may become a way to reduce risks when there is a decrease in demand for lending by obtaining a wide range of commission income. The purpose of the study is to assess the development of brokerage activities of commercial banks in Russia at the present stage and identify its determining factors. The research methodology is based on the use of structural and dynamic statistical analysis, as well as correlation and regression analysis. The assessment of trends demonstrated the overall positive development of brokerage activities of the Russian credit institutions. In particular, there is an increase in the number of unique brokerage accounts opened in the commercial banks. Nevertheless, there was a slowdown in the growth rate of new accounts and a decrease in the activity of customers of the credit institutions, which signals the lack of efficiency of the brokerage activities of a commercial bank. Also, the current situation on the stock market is characterized by a decrease in interest in individual investment accounts and a high proportion of empty brokerage accounts of individuals. The authors have constructed a model of multiple linear regression, which made it possible to discover the main determinants of changes in the share of empty accounts of individuals from all open brokerage accounts in the regions of Russia. As a result of the conducted research, it was revealed that the level of empty brokerage accounts of individuals is influenced by such factors as average per capita income, unemployment rate, the proportion of people of working age and the percentage of the urban population.