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macroJun 2, 2026, 5:12 AM

Number of banks in Russia may fall below 300 by year-end, says Expert RA

The head of rating agency Expert RA said the number of banks in Russia could drop below 300 by the end of the year, adding that a reduction of 5-10 institutions annually is acceptable.

In an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF), the head of the rating agency Expert RA stated that the number of banks operating in Russia may fall below 300 by the end of this year.

He noted that a market contraction of 5 to 10 credit organizations per year is considered quite acceptable. The statement reflects the ongoing consolidation trend in the Russian banking sector.

Source: MarketTwits