Financial Sector Overview slide image

Financial Sector Overview

Bank of Russia FINANCIAL SECTOR OVERVIEW The Central Bank of the Russian Federation SECURITIES MARKET (2) Growing a deeper Russian bond market with strong potential Figure 35: Volume of the Russian local bond market, RUB tn Figure 36: Volume of the Russian corporate bond market, RUB tn ■OFZ Corporate Bonds RUB bonds Eurobonds 36 24 24 24 19.8 19.5 20 20 19.1 18.3 20 18.2 17.7 CAGR 16 +20% 12 CAGR 16.0 7.6 7.6 14.7 16 8.0 +16% 8.0 13.1 6.7 11.9 11.3 11.1 11.1 12 9.2 9.2 8.7 7.8 5.2 11.5 11.9 8.1 8 6.7 6.6 8 7.1 10.2 5.9 6.2 9.3 9.7 4.7 5.3 5.4 4.2 4.3 3.5 4 st 3.0 3.6 3.0 2.5 7.2 7.9 4 5.9 2.5 2.2 2.9 3.1 3.5 3.9 4.7 5.0 5.5 4.5 2.9 3.2 3.6 0 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 25 Figure 37: "Bondization" of the Russian financial market | Equity market trading volume, RUB tn Bond market trading volume*, RUB tn 2009 2010 2011 2012 2013 2014 2015 2016 2017 Figure 38: Corporate loans vs corporate bonds in Russia, RUB tn Loans (incl. foreign debt) Corporate bonds (incl. eurobonds) 2018 68 68 70 65 21.2 29% 60 29% 20 16.5 27% 48 15.3 50 15 13.2 10.6 11.2 23% 40 35 10 29 20% 10.8 30 8.7 19% 5 0 HN 20 81% 80% 77% 73% 71% 71% 2013 10 2014 2015 2016 2017 2018 2009 2011 2013 2015 2017 2018 * Except overnight bonds Source: Cbonds, Moscow Exchange
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