"Despite the slowdown we see today, the Russian economy will continue growing, albeit at a slower rate. The banking sector is growing even faster in the context of overall economic growth and we are expecting to be part of this trend. "
"ROE is our focused strategy and credo and has been so for quite a while now. In line with that we are actively stepping up our efficiency, slowing down where we don’t have much return and focusing on segments with potential for profitable growth."
" Processing huge volumes of information and making decisions on a daily basis can make it difficult for top-management to see all the flaws in company operations. People who do see them are those with hands-on experience. "
"The problem is when people have to use inefficient processes. This is where we have much room for improvement. And this is what we are planning to address. ...Downsizing is not a goal in itself. We are trying to streamline our operations and improve staff performance."
"The situation in the Middle East and a potential conflict in Iran could be problematic although I don’t think the latter is very likely. But if those risks were to materialise, they would pose a formidable threat to Russia as part of the global community and to oil exporting countries. "
"Whether you are a private or government-controlled bank, survival in the competitive environment does not depend on your class affiliation. In fact, success is driven by the right business model and whether or not you bring value to your client at an appealing rate."
"Given its territory, total population, economic maturity and its people’s intellectual potential, Russia has plenty of opportunities. Local banks are elbowing one another in a number of markets and the Russian market is far from being at the saturation level where it can boast quality financial services offered by the whole banking community."
"We can see that more stringent regulation will bring down the banks’ risk appetite which hypothetically may nip in the bud enterprise and initiative, as no finance will be forthcoming. This may occur at niche level, industry level or product level. I hope that the regulator is considering this too. "
"We recently undertook a gap analysis to gauge the distance between where we are, entangled in red tape, and where we want to be. We realised that we would be left behind unless we changed. It took us a few years to strengthen our innovative spirit and a sign of that is our implementation of a bank-wide crowd-sourcing platform."
"We also hold innovative fora at our bank where we exchange ideas with leaders and visiting speakers, hold innovative laboratory sessions, and generate hundreds of new ideas. Some of these ideas are later translated into reality. Staff members are also encouraged to generate innovative ideas and given material incentives to do so."
"...banks which underestimate innovation will have to withdraw from the market. ...We are not trail-blazing here or shaping the new demand: our concern is not to fall short of our clients’ expectations or preferences. This is a new generation of retail clients, who cannot live without social media."
"In general terms, staff members are the kind of contingent which is underestimated as a resource worldwide, particularly in Russia. Nothing good awaits you in the long-term, unless your staff members are satisfied. These stakeholders deserve attention and we are making tangible steps in that direction and investing in our people. "
"More often than not, banks invest only in the relationship between the front office manager and the client ...But there are thousands of people behind those managers who do not deal directly with the clients, but whose level of satisfaction and sentiments impact the ultimate performance of a bank."
"I must admit that social responsibility as a corporate culture is non-existent today and has yet to be built. There has to be a level of maturity where banks and companies realise that CSR is not a PR campaign, but something they can’t do without, that this is what they have to contribute to society and to their children’s future. "