Alfa-Bank held a conference entitled “Russian Banking Sector: The Outlook for the Future”
23 Oct 2006
On 20 October in Moscow, Alfa-Bank sponsored an All-Russia conference entitled “Russian Banking Sector: The Outlook for the Future”. The event was primarily focused on a panel discussion of trends, challenges and prospects for development of the Russian banking system. Representatives of major financial structures, government bodies, and regional and federal mass media took part in the discussion. Also attending the conference were some 100 journalists from leading regional and federal mass media.
Among the featured speakers were Alfa-Bank President Peter Aven, First Deputy Chairman of the Bank of Russia Alexey Ulyukayev, Deputy Chairman of the Committee for Credit Institutions and Financial Markets of the State Duma Anatoly Aksakov, Chairman of Board of Association of Regional Banks of Russia Alexander Murichev, Alfa-Bank Chairman of the Executive Board Rushan Khvesyuk, Head of MasterCard Europe’s Russia office Andrei Korolev, and Head of Standard & Poor’s Russia & CIS office, Alexei Novikov.
During his presentation, Peter Aven underscored the paramount role of the banking system in Russia’s economic development. “Further prosperity of our country is inconceivable without improvements to the banking system and financial institutions. As Russia becomes a visible participant in the global economy, the search for appropriate strategies and models for development of the banking system and its subsequent integration with society is coming to the forefront. Large-scale and ambitious aims are yet to come, and therefore Russian banks must now estimate their progress, what lies ahead, and which difficulties they have faced”, he noted.
The trends and problems in development of regional banking as the largest and most perspective market, as well as the role of regional mass media in expert coverage of financial and banking matters, were given special attention at the conference. “The days when the regions suffered from a lack of attention on the part of powerful financial structures have passed. More and more banks — and Alfa-Bank is no exception — are now turning their attention to the regional market, which boasts truly huge growth potential. Today we are witnessing a new spark of interest in cutting-edge banking services, even as public awareness in cities regarding the characteristics and benefits of banking products leaves much to be desired. Hence, a constructive dialog between business and the press is likely to become one of the instruments for educating the Russian people about financial matters”, noted Rushan Khvesyuk.
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