A Strategy for Russian Commercial Banks to Achieve International Standards and Competitiveness
Loading...
Authors
Acosta, F. Martin
Issue Date
1996
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
In 1993, the World Bank and the European Bank for
Reconstruction and Development launched the Financial Institutions
Development Project (FIDP) aimed to support the Russian
Government long-term strategy to reactivate its economy. The FIDP
finances twinning agreements between indigenous commercial banks
from Russia and Western prestigious commercial banks, where the
Russian banks receive advisory assistance.
This paper gives a complete overview of the Russian economy,
and particularly its financial sector. It contains information
regarding the economic and political situation of Russia and the in depth
transformation of the financial system that started in 1987. In
addition, it describes the characteristics, functions, objectives, costs,
and implementation procedures of the FIDP. Moreover, it defines how
twinning could become a beneficial strategy for indigenous banks of
Russia, following the Polish experience, to achieve international (or
Western) standards and competitiveness.
Although only a few banks are already participating in
twinning projects, the majority of selected banks still awaits for a
Twinner and the authorization from the World Bank and the EBRD. It
is expected that in a few years this group of leading banks will form
the core of a renewed, more efficient banking system, and thus,
strengthen the Russian economy.
Description
v, 68 p.
Citation
Publisher
License
U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.