ENG
Home page Site map

All articles issues

Moscow believes in tears (1951)
Nikita Logvinov  
Sochi disservice (1757)
Media center speaks and shows (1769)
We all come out from Putin's overcoat (1780)
If you liked school you'll love Olympic Games (1771)
Save our souls (1709)
A tale of the Olympic times of old (1896)
Devil-may-care attitude (2280)
Nikita Logvinov  
They wouldn't give away snow in winter (1858)
Nikita Logvinov  
White elephants for the White Olympic Games (1760)
Sergey Semyonov  
Great Olympic wall (1710)
Sergey Semyonov  
Modern technologies for skaters records (1964)
Five stars are certainly better (1939)
Sergey Ivanov  
To the rumble of wheels (1831)
Kirill Vlasenko  
Blue methane for the White Olympic Games (1978)
Spring-cleaning (1820)
Sergey Semyonov  
Superiron for superobjects (2081)
After feasting came the reckoning (1986)
Sergey Semyonov, Nikita Logvinov  
To put things in order and stop stealing (1763)

Stake everything

5-6 (2010)
Viewed: 2102
Print

The Russian and foreign banks, competing with each other, develop representative offices in the Big Sochi, hoping to get the share from financial flows. They open offices and departments for VIP-clients, the network of cash dispenses grows.

For the last some years Big Sochi was the oasis of stability for representatives of the bank services market. During the crisis the majority of bank reduced the number of representative offices in many regions of the country, but the situation was opposite in Krasnodar region.

For three years the quantity of offices and representative offices of the Russian banks and banks with foreign participation in Sochi has grown almost twice. Now almost all large federal banks have branches there — Sberbank, VTB24, Alfa-bank, Zenith Bank, Bank of Moscow, Inteza Bank and others.

Versatility is the leader.

According to Cash Settlement Centre, in the first quarter of 2010 there were 53 banks and 115 points of sales in Sochi, including 32 of the Southwest bank of Sberbank of the Russian Federation. Experts notice that, even despite crisis influence, quantity of banks in a city continues to grow. «There are more than 50 banks for 400 thousand people living in Sochi — this indicator considerably over the average in Russia. The big financial flows go to the city, and banks are longing to get a part of them. The important role have played the fact that Sochi is the Olympic capital», — states the managing director of VTB24 Krasnodar branch Victor Tusikov. Specificity of a resort city involuntarily defines the main direction of bank business competition — retail service. Banks compete with each other, offering more favourable conditions of service, expanding spheres of influence and forming client-oriented business model. At the given stage experts classify the banks working in Sochi, on four types: large federal network banks (Sberbank, VTB, Uralsib, Alfa-bank), core branch banks (Gazprombank, Transcredit bank, International industrial bank, Svyaz-bank), foreign banks «daughters» (Raiffeisen, Unicredit, Inteza), large retail players (VTB24, Russsky standart).

Cheap money for the expensive project.

According to the regional target program «Providing of Olympic objects building and development of Sochi as mountainous and spa resort», 69,2 billion roubles will be allocated for the Olympic Games preparation. The first deputy of financial, budget and control department of a regional administration Sergey Maksimenko has specified that the share of the federal budget will make 37,7 billion, the regional budget — 25,3 billion, the Sochi budget — 1,4 billion, off-budget sources — 4,8 billion roubles.

Almost all big banks working on the territory of the Russian Federation declared their interest in financing of Olympic projects. Actually, the most active banks financing the Sochi building, were the banks with the state participation. VTB has opened the credit line of 10 billion roubles for «USK MOST» for a period of two years. Vnesheconombank actively supplies Olympic projects with cheap money.

At a right time in a right place.

Commercial banks reluctantly give credits for building of Olympic objects, but take active part in the development of other segments of the Sochi bank services market. According to Igor Sosin, today in the city are mostly demanded, and, accordingly, profitable cash settlement services. Active development of business in tourist and service sector promotes demand for business credit services. And the high level of incomes of the Sochi population and low unemployment rate in Krasnodar region makes depositary services claimed.

Bank

Mentions,%

Bank

Mentions,%

1

Sberbank

61

2

Alfa-bank

10,1

3

Russky Standart

9,8

4

Sochi Bank

9,3

5

MoscomPrivatBank

6,5

6

Moscow Bank

5,6

7

TrustBank

4,1

8

Center-invest

3,7

9

Gazprombank

3,6

10

VTB

3,2

Source: MA «Expert Don»


Author: Elena Yakovleva