The specificity and the basic tendencies of development of the banking systems in the regions of the Arctic zone of Russia
Under the today's crisis there is the evident regions’ need for sufficient financial resources to provide the necessary investment activities, forming the sources of replenishment of fixed and current assets of business entities, and development of small and medium-sized businesses. Satisfying these needs is only possible if efficient regional credit systems are formed. The article investigates the specificity and the basic tendencies of development of the banking systems in the regions of the Arctic zone of Russia. The article provides quantitative and qualitative assessments of the banking systems of the Arctic regions, the reasons for reducing the number of regional credit institutions, describes the basic efficient business models of functioning of the regional banks. It has been concluded that the further development of the regional banking institutions in the regions of the Arctic zone is only possible if the currently most efficient business models are used: cooperation with regional and municipal authorities, or looking for the niche in the banking market with the regional specificity taken into consideration.