Ildar Galyautdinov, AKIBANK: ''The state is the main player in the country's economy today''
The crisis in 2014 has long passed, but the economy and, as a result, the banking sector are still recovering. It is difficult to do this: the state is trying to regulate the industry, but it would be better for banking associations to assume the supervisory functions, chairman of the board of AKIBANK PJSC Ildar Galyautdinov said at an online conference of Realnoe Vremya.
''Our economy is still being depressed''
Banks cannot live in isolation from economy. So, all the existing problems today are reflected in the banking sector. The guest of Realnoe Vremya, AKIBANK's CEO Ildar Galyautdinov, decided not to assess the future of the banking sector in 2018: ''Very dynamic legislation. External factors influence. It is difficult to make forecasts for more than three months in advance. Our economy is still being depressed,'' he explained.
However, Ildar Galyautdinov added that the market experienced a crisis in 2014.
''The banks have adapted. But the regulatory impact is growing and the share of state banks in total mass of assets and capital is increasing.''
AKIBANK itself has moderate expectations for 2018. Galyautdinov said that they have chosen to work in conservative strategy. ''We do not see any serious drivers yet. In order for them to appear, certain institutional changes are still needed. They aren't yet.''
Very dynamic legislation. External factors influence. It is difficult to make forecasts for more than three months in advance. Our economy is still being depressed
Nominal self-regulation
The state, according to Galyautdinov, is being the main player in the country's economy today. In order to reduce its impact in the same banking sector, it is necessary to privatize banks and industrial assets. While there is no such programme yet, so it is too early to talk about a real share of the decline in state participation, Galyautdinov believes. But the role of organizations such as the Association of Russian Banks is negligible:
''Although for the development of the market it would not bad if the role of the association was higher, if it played the role of a self-regulatory organization. But we almost do not feel it. The regulator does not listen to them, as well as state authorities,'' said the speaker.
Also, AKIBANK CEO touched on the topic of a new algorithm of banks' rehabilitation. Galyautdinov added that it is difficult to evaluate its effectiveness so far:
''The process has just begun. It is necessary that a certain period of time has passed so that some quantitative, qualitative changes have accumulated. We are being at the early stage.''
I can imagine a bank completely without offices. But still there will be an office where there will some team which will develop services, provide and make reporting
Outsourced bank
The new communication system allows to work with clients in other regions, even without opening offices and representative offices. Now AKIBANK is going this way. However, only standard products can be provided remotely. The bank will not be able to render absolutely ''any'' service.
One of the promising directions of the sector is contactless payment cards.
''The share of cash turnover is decreasing. People are switching to mobile bank. I think everything will be switched to gadgets soon. And further – maybe something else. They say that there will be some chips,'' Galyautdinov noted.
''If twenty years ago they said you would have a mobile phone, where you can write, check email and talk. Would anyone believe that? I can imagine a bank completely without offices. But still there will be an office where there will some team which will develop services, provide and make reporting.''
The fact that the bank does not have an office does not imply any risks. Just there will be nowhere to go if anything happens, and it is unclear at which door to beat.