Sberbank on Russian credit market

The share of trans-border crediting in the structure of the Russian credit market is more than 40 percent. Sberbank Chairman Andrey Kazmin made a corresponding statement at today's meeting of the Association of Russian Banks. Such operations are partially out of control of Russian laws. According to Kazmin, "nobody argues against Russian clients receiving an access to cheap resources," but on the other side, it is necessary to support competitive advantage of Russian banks against foreign banks.

Currently, Russian banks are coming across obstacles trying to enter the market of foreign credits. It is primarily connected with the increase of cost of foreign credits, which is being considered now, Kazmin noted.

In addition, according to Kazmin, it is necessary to change the attitude towards negotiations over Russia's accession to the WTO in respect to activities of the Russian bank sector as some issues affect the interests of Russian banks.