Private banking pattern in Russia

Особенности организации private banking в России

Loginov, Mikhail (Логинов, Михаил) () and Usova, Natal’ya (Усова, Наталья) ()
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Loginov, Mikhail (Логинов, Михаил): Russian Presidential Academy of National Economy and Public Administration, Ural Institute of Management
Usova, Natal’ya (Усова, Наталья): Russian Presidential Academy of National Economy and Public Administration, Ural Institute of Management

Voprosy upravleniya / Management Issues, 2019, 64-77

Abstract: Purpose. Identification of trends in the development of private banking in Russia, taking into account the specifics of the target audience. The study notes that to date, there has not been a unified approach to the category of “private banking”, which leads to the fact that in some cases, credit institutions posi-tion their services as specially provided for customers of the private banking segment, although in fact they correspond only to the level of mass affluent service. However, the study of the customer profiling and his financial status is the basis for the development of investment strategy, significant customer characteristics are: ethnicity, age, marital status, professional affiliation, place of residence of the cus-tomer, as well as the purpose and term of investments. When assessing the financial condition of the client, the amount and sources of annual income, the share of the state and the amount of liquid funds that the client plans to place in the credit institution are taken into account. Methods. The methodological basis of the study was general scientific and special methods of cogni-tion. In particular, such methods as analysis, comparison, segmentation and retrospective approach were used. Results. The specificity of domestic private banking, the criteria for segmentation of private banking clients, as well as the characteristics of five groups of services for private banking clients are present-ed. A retrospective analysis of the development of private banking in Russia is carried out; a compara-tive analysis of premium packages for particularly important clients of Russian banks is presented. Scientific novelty. The principles of private banking in Russia are highlighted, as well as the trends and specifics of the private banking development in Russia, including changes in the structure of demand and supply of services.

Keywords: banking; private banking; VIP service; asset management; wealth management (search for similar items in EconPapers)
Date: 2019
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