Fifty banks may quit Russian market in coming three years

About 50 banks may leave the Russian market in the next three years, the head of the ACRA rating agency, Mikhail Sukhov, told Izvestia newspaper, Report informs.

According to him, the reasons and probability for withdrawal from the market are mostly determined by the types of banks. The expert conditionally divided them into three groups:

"The first is external. The speed of the exit from here depends more on administrative decisions and the relationship with the regulators of the major banks, as well as how profitable it is to leave. The second group is small banks owned by large companies or enterprises. For example, those who provide services to the payment business.

"In the current conditions, it is clear that operating business cannot be the only source of income, it is necessary to go to more profitable markets - lending. Not everyone can succeed with low capital. The third group of owners is credit institutions within larger groups that will reduce costs."

Answering the question about the possible withdrawal of large foreign banks from the Russian market, Mikhail Sukhov noted that the agency sees a decrease in their business, but further decisions will depend on the owners and managers of these credit institutions.