Financial institutions face slowed asset growth in 2024 due to tight monetary conditions

Central Banks
Elvira Nabiullina Governor of the Central Bank of Russia - Official Website
Elvira Nabiullina Governor of the Central Bank of Russia - Official Website
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Apr 14, 2025
Byfiat reporter
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Growth in financial institutions’ assets has slowed in 2024 under tight monetary conditions. Banks traditionally reported the highest asset growth, while non-bank financial institutions (NFIs) that provide products like exchange-traded funds and short-term life insurance policies have seen a dynamic increase in assets. These financial products offer returns on par with bank deposits. In contrast, the proportion of brokerage clients’ assets within total assets has decreased.

The profitability of most Russian financial institutions showed improvement, with management companies leading as the most profitable NFI segment in 2024.

Further details can be found in the Review of the Russian Financial Sector for 2024.

Photo credit: YanLev Alexey Sizov / Shutterstock / Fotodom

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