Pyotr Aven: 100-200 banks to remain in Russia

Pyotr Aven: 100-200 banks to remain in Russia
Pyotr Aven, co-owner of Alfa Bank

Head of the Board of Directors and co-owner of Alfa Bank Petr Aven believes that in two to three years, the number of banks operating in the Russian banking system will be reduced to 100-200.

According to him, this will happen as a result of the active revocation of licenses by the Central Bank of Russia.

The rate at which the Central Bank revokes licenses will persist in 2017, resulting in the  number of banking institutions in the Russian system reduced to 100-200 compared to the current 580 organizations in two to three years.

"I think the pace of license withdrawal will be maintained at around 100 banks per year. Thus, over 100 banks will remain in the system. And that's actually enough," he said in a speech at the Russian Business Week 2017 forum in London on Friday.

Tags: Banks Moscow


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