Photo: Mikhail Japaridze / TASS
The head of VTB Andrey Kostin have joined in the criticism made by Alfa-Bank to the address of the Association of Russian banks (ARB). According to him, ARB should think about in what terms to Express his insights
During the Congress of the Association of Russian banks (ARB), held on Tuesday, March 28, the head of VTB Andrey Kostin criticized the report of the ARB, the correspondent of RBC. The day before, 27 March, the report criticized Alfa-Bank.
Costin regretfully stressed that the team VTB did not participate in the preparation of this report, and stated that “neither the form nor the content” may not agree with what is written in the text of the main report.
“It was a brilliant piece about the relationship between the microfinance institution and the borrower — the immortal work of Fyodor Dostoyevsky’s “Crime and punishment”. But we’re not in the writers ‘Union, so presenting some things, we must avoid very bright but inappropriate for the report to quotations, which are abundant in report: the beginning of a new world war, the Jesuit approaches and so on”, — said Kostin.
According to him, ARB their hints on what the big players “solve problems” in their own interests, “does not unite, but divides the banks.”
Kostin also quoted part of the report, which says that the Central Bank makes decisions “behind the scenes”, “the tip of a narrow group of persons with access to the classrooms”, which are private, not public interests. In answering this reproach, Kostin said that the Central Bank is practicing a “smooth approach to the banks,” regardless of their size. “So I think that the Association should not oppose banks large and small, public and private,” — said the head of VTB.
Kostin also said that the question of suspension of VTB in the Association of Russian banks is not. “But I think that Associations need to seriously think how to cook these materials, what is there to explain how to reach consensus on ideas and wordings,” he said.
Yesterday, March 27, Alfa-Bank announced the suspension of its membership in the ARB after the Association has published its annual report criticizing the actions of the Central Bank for “clearance” of the banking sector. The document says that the regulator’s activities on the “clipping” of individual banks from public funds “takes on a very strange (if not to say cynical) form and loses all logic”. According to the authors of the report, the Governor’s actions harm competition in the banking sector and undermine “confidence in the banking system” in General.
In a statement, Alfa-Bank, published on the website of the credit organization, emphasizes the disagreement with some of the conclusions and assessments contained in the report in which the Bank’s experts did not participate, and also expressed confidence that the major threat of competition remains a weak and unscrupulous players.
Thus in a press-service ARB stated that the claim of Alfa-Bank are unfounded, and emphasized that the text was approved by the Council of the Association almost at full strength.