Russia –

Russia does not seem to be performing very well in the banking sector because only one Russian bank has made its way in the Top 50 banks in the emerging markets. The only Russian bank on the list is - JSC VTB Bank – 25^th; with an asset of $140,792 million. This is a rather dismal performance considering the size of the country. The reason behind this may be because of 2008-09 world economic crisis, when the oil prices decreased and the foreign reserves of Russia hit almost rock-bottom. The Central Bank of Russia provided $200 billion to help its economy but it couldn’t redeem the whole situation. Despite the money provided by the government, the stability in the country did not last long. So, the banking sector is still suffering. Russia will have to brace itself for tough competition from other BRIC nations, especially in the banking sector, in order to improve its situation.