FAS wants to ban the use in advertising of the banks information about the state participation in their capital
The Federal Antimonopoly service (FAS) of Russia wants to ban the use in advertising the financial services of banks, information on state participation in their capital, said the Deputy head of service Andrey Kashevarov.
“We and the Central Bank are discussing a ban on the use in advertising of financial services availability of direct or indirect state participation in the authorized capital,” said Cook, speaking at the Congress of the Association of Russian banks.
Deputy head of FAS pointed out that there are many cases where banks commercials promise “the best offer”, based on the fact that they are state-owned banks and thus potentially more sustainable.
“In principle, in advertising, in our view, this should not be allowed, and so here we are going to formulate the relevant proposals for the introduction of prohibitions,” he added.
In late January, the Deputy head of the FAS reported that the Agency detects a deterioration of competition in the banking system, are clearly seen a tendency to increase the market share of large banks with state participation. In this regard, the service offered the Central Bank to impose restrictions on the purchase of state-owned banks other credit institutions, the Bank of Russia supported the proposal.
As reported in February, the head of the CBR Elvira Nabiullina, the share of state banks in the assets of the Russian banking sector increased to 66.2%.