The article examines the role of regional banks in the socio-economic development of the regional economy: the nature of the regional bank as an element of the financial system of the region is investigated, the relationship between the financial performance of the regional bank and the indicators of socio–economic development of the region is analyzed. The analysis of changes in the structure of the banking sector, starting in 2016, is carried out in order to assess the implementation of the principles of proportional regulation of the activities of banking sector entities. The advantage of regional banks in comparison with federal ones is studied in order to implement the transformation of the national economy against the background of current challenges: regional banks in conditions of resource scarcity, nevertheless, have greater flexibility, stability and the ability to quickly adapt to changing conditions, are able to offer customers the most suitable products and services and are a necessary element for the balanced development of regional (sub-federal) finance.