Carree, Martin A. (2000). The evolution of the Russian saving bank sector during the transition era. ERIM Report Series Reference No. ERS-2000-27-STR
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.
ERIM Report Series Reference No. ERS-2000-27-STR
Carree, Martin A.