| Yuri Ponomarev | ||||||
Isn’t the dominance of state banks bad for the health of the sector?
Before the [1998] crisis the government dealt with a huge sprawling network of banks, and officials were free to deal with anyone they chose. The result was massive losses for the government. This experience must not be allowed to be repeated.
We need strong banks. We need a few national champions. In the UK the top four banks have a larger market share [in terms of assets] than the top four Russian banks.
Thanks for your interest in Euromoney!
To unlock this article:
