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Assessment of the Efficiency of Russian Banks in 2012–2021 Amid the Changing Regulatory Policy and External Shocks
https://doi.org/10.34023/2313-6383-2025-32-5-18-29
Abstract
This paper analyses the dynamics of performance of Russian banks from 2012 to 2021. To assess the efficiency of financial institutions, the authors used parametric Stochastic Frontier Analysis (SFA) method. The study examines various aspects of bank operations, including lending, deposit-taking, and cost management.
For an in-depth analysis and to obtain estimates from more homogeneous samples, all banks were divided into five groups based on asset size. The efficiency models were estimated separately for each group and for each year, enabling the tracking of changes both across groups and over time. The study’s key conclusion is that an overall decline in banking efficiency was observed over the period under review. This fact may be linked to the dynamics of the key interest rate, specifically to the periods of monetary policy easing (during times of higher interest rates, banks are forced to operate with greater efficiency). Only the group of the five largest banks managed to maintain their deposit-taking efficiency, which is likely due to their high level of customer trust and these institutions’ relatively easier access to retail funds.
Cost management efficiency was generally found to be higher, with the largest banks demonstrating the most successful performance. The findings of the study and the resulting estimates can be valuable for both government bodies providing banking supervision and regulation, and for the banks themselves and their counterparties.
Keywords
bank efficiency,
efficiency assessment methods,
stochastic frontier analysis method,
cost efficiency,
bank lending,
deposit attraction
Supporting agencies: The article was written on the basis of the RANEPA state assignment research programme.
About the Authors
A. V. Zubarev
Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Russian Federation
Russian Federation
Andrey V. Zubarev – Cand. Sci. (Econ.), Director, Centre for Mathematical Modelling of Economic Processes, Institute of Applied Economic Research
84, Vernadskogo Ave., Moscow, 117517
Ya. P. Motyakina
Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Russian Federation
Russian Federation
Yana P. Motyakina – Junior Researcher, Centre for Mathematical Modelling of Economic Processes, Institute of Applied Economic Research
84, Vernadskogo Ave., Moscow, 11751
O. A. Bekirova
Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Russian Federation
Russian Federation
Olga A. Bekirova – Researcher, Centre for Mathematical Modelling of Economic Processes, Institute of Applied Economic Research
84, Vernadskogo Ave., Moscow, 117517
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Review
For citations:
Zubarev A.V., Motyakina Ya.P., Bekirova O.A. Assessment of the Efficiency of Russian Banks in 2012–2021 Amid the Changing Regulatory Policy and External Shocks. Voprosy statistiki. 2025;32(5):18-29. (In Russ.) https://doi.org/10.34023/2313-6383-2025-32-5-18-29
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