Realizing the Economic Potential of Russia
Panel Session
Congress Centre, Conference Hall D1

Lower commodity prices and curtailed US dollar and euro financing have pushed the Russian banking sector into making major strategic adjustments. What steps should Russian domestic banks take to adjust to the new market conditions and how are international banks operating in Russia overhauling their strategies? What is the prognosis for both domestic and international players over the next half decade?

Mathias Bruggmann , Head of the Foreign Affairs Desk, Handelsblatt

Yury Isaev , General Director, Deposit Insurance Agency
Marc Luet , Country Officer, Russia, Division Head, Russia, Ukraine and Kazakhstan, Citi
Alexei Moiseev , Deputy Finance Minister of the Russian Federation
Vasileios T. Rapanos , Chairman, Alpha Bank
Vsevolod Rozanov , Senior Vice President, Chief Financial Officer, Sistema
Pavel Teplukhin , Chief Country Officer, Deutsche Bank Russia
Ekaterina Trofimova , Chief Executive Officer, Analytical Credit Rating Agency (ACRA)
Nikolay Tsekhomskiy , First Deputy Chairman of the Management Board, Bank for Development and Foreign Economic Affairs (Vnesheconombank)


Key moments

The Russian banking system has been, and still is open for foreign banks.
Alexey Moiseev
We need serious changes in the banking system, not evolutionary, but revolutionary changes so that we could move away from the system’s inertia.
Ekaterina Trofimova
Today, by way of illustrating the banks’ adaptation to new conditions, we may speak about banks as IT companies holding banking licenses.
Nikolay Tsekhomskiy
In the next 3–4 years banks have to address significant challenges that exist across the board. Banks have to develop a differentiated strategy and to invest in regulation improvement and technology changes.
Marc Luet
We are still feeling the consequences of the 1998 and 2008 crises. Virtually no serious steps have been taken recently to sanitize the banking system and to overcome the negative consequences of those crises.
Yury Isaev
One of the most complicated issues of the global banking system is that the interest rates have stabilized around zero or are even negative which essentially makes banking activity meaningless.
Alexey Moiseev