Abstract
The article discusses the stages of development of the Russian banking system since the beginning of its operation up to date. The impact of the financial crises of 1998 and 2008 is analyzed. The transformation of the banking system from its state in 1998, when it served as a financial intermediary between capital market and production market to post-crisis state after 2008, when it have begun to carry out the functions fully inherent in the banking system is shown. The structure of the banking system by the beginning of the 2008 crisis is examined. The Russian banking system in the post-crisis period is compared with the banking systems of the most successful economies in the world. The role of the state after the 2008 crisis is analyzed. Major financial flows in the Russian Federation are revealed. The unique role of Moscow banks in the financial system of Russia and the degree of concentration of banking capital by federal districts are shown. The main development trends of the Russian banking system and its role in the global banking system are examined.
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