IMPACT OF THE COVID-19 PANDEMIC ON THE FUNCTIONING OF THE BANKING SYSTEM

M.Kh. Melikova, A.E. Zaborovskaya
2022 Vestnik Udmurtskogo universiteta. Èkonomika i pravo  
The article analyzes the impact of COVID-19 on the functioning of the banking system. The aim of the study is to identify and analyze the main problematic aspects in the activities of banking entities in the context of the COVID-19 pandemic. The authors pay special attention to the negative factors that influenced the stability of the banking system, and various options for measures of state support for banks. The pandemic of the new coronavirus infection COVID-19, which has swept through
more » ... the entire world, has serious negative consequences for the economy and, in particular, for the banking system. At the same time, it was the banks that became the focus of the state's attention in the fight against the crisis phenomena in the economy. The analysis showed that in comparison with the crises of 2008-2009. and 2014-2015, both foreign and Russian banks became more stable, this was facilitated by a number of factors that had a positive impact on the economy. The authors provide a detailed analysis of the results of an expert study on the impact of the pandemic on bank employees working remotely in the "home-office" mode, and draw conclusions about promising directions for the development of banking technologies. In the long term, according to experts, the COVID-19 pandemic will negatively affect the banking sector, therefore, competent, structured, organized decisions and actions in the banking sector will help smooth out the manifestations of the crisis and meet both the interests of society as a whole and the interests of bank shareholders.
doi:10.35634/2412-9593-2022-32-2-245-250 fatcat:2n55fph275btplsn4p5ew665pm