In 2023 in the Russian Federation, the number of operating credit institutions with the participation of non-residents decreased to 96 from 108. In 2022, their number decreased to 108 from 115. Moscowtimes writes about this.
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What is known
After Since the beginning of the war in Ukraine, Western countries have introduced extreme sanctions against the financial sector of the Russian Federation, and foreign banks began to leave the country. The escalation of sanctions quickly limited the number of potential foreign business buyers.
The authorities gradually made it more difficult for foreigners to exit Russian assets by introducing a special permit procedure at the level of Russian President Vladimir Putin for a certain list of banks and companies with shareholders from countries “unfriendly” to Russia .
The total authorized capital of banks at the end of 2023 increased to 3.4 trillion rubles, and investments by non-residents in the authorized capital of operating banks decreased to 335.5 billion rubles (-9.0%).
The share of foreign capital in the total capital of operating banks of the Russian Federation as of the beginning of 2024 amounted to 7.0%, having decreased over the past year by 2.0 percentage points.