Peculiarities of competition in banking

The problem of competition, primarily in a market economy, is one of the global issues of economic theory. For the modern Russia, the sharpest competition in the banking business is already an objective reality, which is constantly growing every year as the development of credit institutions network and other institutions. Bank competition is a dynamic process of competition between commercial banks and other lending institutions, within which they seek to secure a firm position in the banking services market. The competitiveness of commercial banks is becoming an actual goal of banking management in the context of the predicted increase in the scope of interbank competition. Domestic and foreign economic science has not yet developed a consensus on the nature and definition of the commercial banks competitiveness.