BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
No 22/2009:
Determinants of bank interest margins in Russia: Does bank ownership matter?
Zuzana Fungacova ()
and Tigran Poghosyan
Abstract: This paper analyzes interest margin determinants in the
Russian banking sector with a particular emphasis on the bank ownership
structure. Using a unique bank-level data covering Russia’s entire banking
sector for the 19992007 period, we find that the impact of a number of
commonly used determinants such as market structure, credit risk, liquidity
risk and size of operations differs across state-controlled,
domestic-private and foreign-owned banks. At the same time, the influence
of operational costs and bank risk aversion is homogeneous across ownership
groups. The results overall suggest the form of bank ownership needs to be
considered when analyzing interest margin determinants.
Keywords: bank interest margins; financial intermediation; Russia; (follow links to similar papers)
JEL-Codes: G21; P34; (follow links to similar papers)
31 pages, November 25, 2009
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