Crimean authorities are not waiting for large Russian banks
Simferopol, April 24 (Navigator, Kirill Boyarin) – The Crimean authorities do not expect large Russian banks such as VTB, Sberbank or Alfa Bank to enter the peninsula.
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Vitaly Nakhlupin, Chairman of the Standing Commission on Budget, Economic and Investment Policy of the State Council of Crimea, stated this at a press conference in Simferopol.
According to him, the subsidiaries of “Russian banks” that previously worked in Crimea have Ukrainian licenses, which do not allow them to operate on the peninsula.
“Given the current situation, it is probably more beneficial for us from a competition point of view for large Russian banks not to enter. It will be very difficult for medium and small banks to compete with the TOP 10 banks in Russia. But we need competition, we would like as many branches to be opened as possible,” Nakhlupin noted.
He also emphasized that last year throughout Crimea there were about 200 bank branches in the off-season and about 250 in the high season.
“Today the number of open branches is approaching 150. There are plans to have about two hundred branches after the May holidays,” added Vitaly Nakhlupin.
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