Problems of Increasing Public Confidence in Russian Banks in the Sociological Dimension. Part II

The empirical basis for writing this article is based on three sociological researches of Institute of Sociology of FCTAS RAS made by order and with financial support from the Central Bank of the Russian Federation (Bank of Russia), National Bureau of credit histories (NBCH) and the Russian Bank of support of small and medium enterprises (SME Bank) in 2013, 2015 and 2019, that is, before the crisis, in the midst of crisis and in the early post-crisis period. All three studies were initiated by the Association of Russian banks (ARB). Considerable attention is paid to the analysis of assessments of the Central Bank’s monetary policy in public opinion at various historical stages and its impact on the level of public confidence in the banking system as a whole. The article analyzes objective and subjective reasons that negatively affect the level of public confidence in banks. Among them, the problems of reducing the living standards of the population, mass revocation of licenses from commercial banks, falling investment attractiveness of storing funds by individuals in banks, etc. are analyzed. In conclusion, the first part of the article provides recommendations based on the results of the study to restore and strengthen public confidence in banks through a more responsible and flexible monetary policy, increase the transparency of the banking community and expand information about its activities, promote financial literacy, systematic sociological monitoring of the population’s attitude to banks and scientific and practical understanding of its results.