Modern Problems and Results of Digitalization in the Russian Banking Sector (Bulletin of the Altai Academy of Economics and law)

Summary

• Personnel accounts for 46% of IT expenses in TOP 10 banks in 2025, whereas software and licenses represent 40% of IT spending for banks ranked 51 to 100.p.3
• Total workforce across the 20 largest banking groups shrank by 4% to 557 тыс. человек by the end of 2025.p.4
• Average monthly industry salary increased to 180 тыс. рублей in 2025, reaching between 210-360 тыс. рублей in several banks.p.4
• Banks maintaining legacy architectures risk spending more than 30% of their IT budgets on outdated systems in 2026.p.4

Key insights

1. Sovcombank topped the 2024 digital maturity ranking among 35 Russian retail banks evaluated by SDI360.p.3
2. Top 10 banks spend the largest portion of their IT budget on personnel (46%), while smaller banks allocate most IT funds to software and licenses (40%).p.3
3. Mass transition to the digital ruble begins in 2026, with complete implementation targeted over the following 5 years.p.3
4. Support for a universal QR code becomes mandatory for all banks starting September 2026.p.4
5. Automation reduced total employment across the 20 largest banking groups by 4% to 557 тыс. человек in 2025.p.4