Deposit Policy of a Commercial Bank: Problems and Prospects

Abstract

Increase of banking resources volume affects stable functioning of banking system. The ability of a bank to carry out active operations and ensure their own financial stability depends on how banks take care of financial resources formation. Under modern conditions of the economy functioning, the deposit policy of commercial banks is one of the key elements of functioning and stability of Russian banking system. This type of bank policy allows meeting economic, social and cultural needs of the real sector of the country's economy. Sustainable development of banking system and effective functioning of the banks in modern business environment are determined by effective management policy, the key object of which is banking resources. The practice of market countries shows that reasonable competitive deposit policy of banks is an important condition for ensuring stability and profitability of banking sector. In this aspect, important strategic direction of deposit market development is innovative product policy of banking institutions, which consists in constantly updating the range of products and services and using modern information technologies for customer service. Introduction of innovations in banking system makes it possible to improve the quality of banking services, which in turn ensures profitability growth and financial stability of the banks. Therefore, commercial banks should constantly form competent deposit policy and develop new approaches to attracting more customers, which will allow them to take leading position in this segment of banking products market. In the article, the authors studied the main problems and trends of deposit market development in the Russian Federation. According to the results of the comprehensive analysis, the key commercial banks are identified in which deposits of individuals and commercial organizations’ deposits are accumulated. The authors revealed the main factors influencing the deposit policy effectiveness of the bank.