Trends in Banking Activities Influence on the Formation of Points of Socio-Economic Growth in the Regions

The purpose of the article is to identify the characteristics of the impact of banking activities on the formation of points of socio-economic growth in the region on the example of the North-West Federal District. The study used a variety of methods of scientific knowledge of economic and social processes, including: systemic, grouping, theoretical generalization, the method of scientific abstraction, comparative analysis. It was stated that the current level of socio-economic development of the North-West Federal District requires finding effective ways to systematically solve the problems existing in the region, aimed at implementing projects for the development of the economic and social sphere of the region. It is shown that banking institutions, in addition to the financial and credit functions proper perform unique system-forming functions of the activities of all subjects of economic and social relations in obtaining banking services. The article demonstrates the significant economic and social role of banking institutions in the development of the North-West Federal District. It was concluded that banking capital should contribute to the development of production, agriculture and small business, to promote employment and increase incomes of the population. The study showed that the level of interregional differentiation in the North-West Federal District is quite significant, which is an unfavorable factor and does not contribute to the intensive development of the region. Therefore, a number of proposals were formulated, the implementation of which could contribute to a more effective impact on the current situation: namely, bank financing should be more actively directed to less developed regions of the district, and priority should be given to high-tech and innovative industries that will enhance the competitiveness of the district; it is necessary to intensify government procurement with the involvement of bank capital to support the economy of less developed regions of the district; the interaction of regional governments in the North-West Federal District with banking organizations should be improved. Also, banks in the Northwestern Federal District should focus on supporting small and medium-sized businesses, which have significant potential for development in this region. It was emphasized that such an approach would allow for the realization of not only the economic but also the social role of banks, as well as improves the indicators of socio-economic development both of the entire district and of its individual territories.