Today’s financial sector in Russia is more reliable than in the last twenty years. However, Russians do not always trust the banks and many people prefer to keep their money converted into dollars at home.

The system of credit is young and complex. The interest rates are high. Foreign banks have increased their presence.

Many Russian banks went bankrupt in 1998 when the government defaulted on £22 billion in bonds and therefore finding a good bank create difficulties.

 

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