The role of the banking system in the sustainable development of the economy

Abstract

The article outlines the importance of the banking system in the sustainable development of the economy of the state as a whole. In modern conditions, the issues of sustainable development of com-mercial banks are becoming especially relevant, since they determine the state of the country’s economy as a whole. At the same time, commercial banks operate under the influence of various factors of the internal and external environment, digital transformation and transition.This article provides an overview of the rules and methods for assessing the sustainable development of commercial banks using the method of theoretical analysis. As a result of the research, theoretical ap-proaches to the disclosure of the economic content of the sustainable development of commercial banks have been developed, as well as the existing methodological approach to assessing the sustainability of the bank’s development, taking into account five components: economic, social, environmental, in-stitutional and technological. The global and domestic turns of the ongoing events in the sustainable development of the banking sector are reflected, the prerequisites for the actual development of modern banks are identified.The article discusses approaches to the formation of indicators of sustainable development. The authors examined global trends in the field of sustainable development, characteristic of foreign and domestic banks. Based on the analysis, the use of elements of sustainable development of banking orga-nizations and turns to it are presented.

Keywords

• sustainable development
• commercial bank
• sustainability assessment
• esg develop-ment
• indicators of sustainable development.