8 largest banks come from ARB discusses the creation of alternative enterprises
The eight largest banks, including SberbankSBER and VTB, announced the release of the Association of Russian banks (ARB) because of the position of the Association on a number of issues, including the activities of the Central Bank for cleaning the banking sector. A corresponding joint statement by banks on Monday.
The document was signed by chairmen of the Board of Sberbank, VTB, VTB24, Rosselkhozbank, Gazprombank, Alfa-Bank, Bank “FC Opening” and of the Bank. It notes that the effectiveness of the Association’s activities reduced in recent years. Banks indicate unsatisfactory work of the ARB, which, in their opinion, when making decisions, does not take into account the interests of its members, as well as “replaces constructive dialogue with many hours of speeches.”Alfa-Bank announced the release of the ARB
“Unjustified criticism by the Association of a number of legislative initiatives (for example, proportional regulation of activities of credit organizations), as well as activities of the Bank of Russia for cleansing the banking sector from unfair participants, inhibit the growth of prestige of the banking system, trust of customers, the development of competition in the financial market and leads to a deterioration of the quality of banking services”, – said in a joint statement.
In the opinion of credit institutions, formed the Association currently positions undermine the trust and partnership between the banks, preventing their constructive engagement and cooperation with the Central Bank and government agencies. In addition, it is noted that often credit institutions are not involved in the preparation of the key documents guiding the activities of the Association. “The responsibility for this situation carries the President of the Association, which in its activities was largely motivated by personal interests,” – said in a statement.
“Given the above, we accept the decision to withdraw from the Association and we consider inadmissible all further actions carried out on our behalf”, – the document says.
In March, Alfa-Bank announced the suspension of membership in the ARB because of disagreement on several points contained in the annual report of the Association. The head of VTB Andrey Kostin complained about the content and wording of the report, which contained criticism on several issues of the CBR.
In turn, ARB released a statement which says that the Association regrets the release of a number of major credit institutions of the ARB.ARB regrets the release of a number of large banks from the Association
“We regret that some large credit institutions took the decision to withdraw from ARB”, – stated in the message of the organization. “Articles of Association means the rule of “one member Association, one vote”, and this rule is strictly observed. All major decisions related to the activities of the Association, are made collectively by the Council, ARB, approved at the meeting of the Association – said in a release.
The ARB noted that the position of the Association on the development of the banking sector, including those outlined in the report to Congress in 2017, was approved on a vote of Council ARB in March 2017 44 bedrooms “for” and one “no” vote and one “abstention”.
“In this regard, we categorically reject the charges of some credit institutions that the report’s conclusions do not correspond to the opinion of the members of the Association. The big banks – members of the Association can (and always could) to take an active part in the formation of the ARB’s position on issues of financial market development on different levels – from Board ARB to work in the committees of the Association”, – is spoken in the message.
Application for withdrawal of banks from the composition of the ARB, according to the Charter, will be considered by the ARB Board.
As reported by the Chairman of the Board of alpha Bank Vladimir Senin, the number of Russian banks leads the discussion about the prospects of creating new enterprises, alternative, Association of Russian banks.
“The question of changing the format of interaction between the banks, including on the prospects of creating a new banking Association, is under discussion. … We believe that the interaction of financial institutions should be based on new principles. Banks do not need bureaucratic, uncontrollable machine. Need an easy Association with a transparent structure, which will really take into account the voice of each of the credit organization”, — said Senin.Alfa-Bank: the Number of banks of the Russian Federation discusses the prospects for the creation of enterprises, alternative ARB
According to him, the questions for activity ARB arise.
“Just the replacement of management of the Association will not allow to simultaneously solve all the problems accumulated over the period of its existence. Necessary structural reforms, including a change in the principles of management of Association. Question about how will be built the cooperation between credit institutions after the release of ARB is in the discussion stage”, — said the Chairman of the Board.
At the same time, as the ARB, the number of banks of the Russian Federation defended the position of the Association in its dispute with major market players.
“The value of Association lies in the fact that it helps how to formulate a consolidated view of the banking community and provides the opportunity for each participant to Express their point of view that is not dependent on identified areas of national development. In the current environment it is clear that to really find the one and only position for all banks impossible. Dissent will always be,” are available on the ARB website the words of the Chairman of the Board of fora-Bank Sergey Balakina.
In his opinion, in this situation, everyone will lose the banking community, “as it is known that the more views taken into account in discussions and decision-making, the more balanced and thoughtful it eventually turns out to be”.
“The reason for this demarche of credit institutions, it seems to me is that Garegin Ashotovich (Tosunyan, head of the ARB – ed.) took active and principled position on the protection of the interests of the banks with the base license. If you recall the draft law on proportional regulation, presented in the summer of 2016, and see its final version, it is clear that much has changed. Such examples are many. It’s not all like” – says the Chairman of the Board of Yug-Investbank Sergei Ablogin. CEO Neklis-Bank Sergey Boriskin also notes the role of ARB in the dialogue with the Central Bank, Ministry of Finance, the FAS, Rosfinmonitoring, FTS.
Fora-Bank, according to RIA Rating, ranks 103rd overall in terms of assets in the banking system of the Russian Federation, South-Investbank – 209, Neklis-Bank – 287.