Foreign Banks' Strategies in Russia

Andrei Vernikov ()

Voprosy Ekonomiki, 2002, vol. 12

Abstract: Foreign banks that penetrate the Russian market are guided by different motivations and pursue diverse strategies. The leaders of worldwide banking have so far followed organic growth strategy in Russia thus avoiding large-scale investments and commitments. This resulted in a negligible market share they control. Russian operations do not yet provide a critical financial contribution to the parent banking groups' results. A considerable share of banking services to clients in Russia is delivered offshore. Within the next few years one might expect a consolidation of foreign banks' business in Russia. Three or four global players may increase their market share, also via acquisition of local institutions, while a few other players will be marginalized or even quit the Russian market altogether.

Date: 2002
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