Following the 1988 banking reform in Russia there was an enormous increase in the number of (registered) commercial banks. The Russian savings bank sector went through a period of shakeout after the August 1995 interbank crisis. Large banks were able to expand their market shares in the deposits market as a result of scale advantages and advertising. Entrants unsuccessfully sought to gain market share by having high deposit rates.

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Erasmus Research Institute of Management
hdl.handle.net/1765/39
ERIM Report Series Research in Management
Erasmus Research Institute of Management

Carree, M. (2000). The Evolution of the Russian Saving Bank Sector During the Transition Era (No. ERS-2000-27-STR). ERIM Report Series Research in Management. Retrieved from http://hdl.handle.net/1765/39