IMPROVING THE EFFICIENCY OF REGIONAL BANKS IN THE REGIONS OF THE RUSSIAN ARCTIC BY OPTIMIZING INTERACTION WITH AUTHORITIES

Abstract

The article is devoted to the analysis of ways to improve the efficiency of regional banks in the regions of the Russian Arctic. The approaches to the allocation of regional banking structures and the features of the organization of their activities are considered. Based on the analysis of the research of the leading authors, the positive influence of regional banks on the stability of socio-economic systems of the subjects of the Russian Federation, as well as on financial support for the implementation of regional economic processes, confirmed the thesis on the effectiveness of the implementation of various schemes of interaction between authorities and credit institutions for the development of the region, including by granting a credit institution a special status (a reference bank, authorized bank, partner bank). The authors highlighted criteria for determining the regions, for which it is effective to create a regional bank with a model of organizing activities based on interaction with authorities. Regional banks, operating in the regions of the Russian Arctic, are in detail studied, the directions of their specialization and the features of the models of organization of their activities are highlighted. The conditions and the need to create regional banks with a special status in the regions of the Russian Arctic, including supporting regional banks, are analyzed. It is concluded that currently there is a need and potential for the creation of such banks in such regions of the Russian Arctic as the Murmansk and Arkhangelsk regions, the Komi Republic. The article provides recommendations for improving the efficiency of regional banks operating in the Murmansk region (PJSC Murmansk Social Commercial Bank) and in the Komi Republic (PJSC Northern People’s Bank) as well as for creating on their basis supporting regional credit organizations whose activities will contribute to the development of financial systems of these subjects of the Russian Federation.

Keywords

• banking system
• regional banks
• reference banks
• banking models
• regions of the arctic zone of the russian federation