Kasyanov Says Competitiveness Is Vital Aspect Of Banking Reforms

Prime Minister Mikhail Kasyanov commented on banking reforms in Russia and stressed that the establishment of competitiveness in this field is one of the main aspects of these reforms. Another important factor is the elimination of "the conflict of interests". He noted at the opening of the government's meeting today that Vneshekonombank, which combines functions of a state debt managing agency and banking activities is an example of such a conflict. Kasyanov believes that Vneshekonombank should be divided into two banking institutions - a debt servicing agent and a commercial bank.

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