Alfa-Bank has terminated the membership of the ARB because of the allegations...

Alfa-Bank has terminated the membership of the ARB because of the allegations of the Central Bank in “cynicism”

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Photo: Oleg Yakovlev / RBC

Alfa-Bank announced the suspension of its membership in the Association of Russian banks. One of the largest banks of Russia spoke in support of the actions of the Central Bank for cleaning the banking sector

Alfa-Bank, one of the top 10 largest banks in Russia, announced the suspension of its membership in the Association of Russian banks (ARB) in connection with the “significant divergence of positions on actual problems of development of the banking system.”

The reason for the conflict was published in the run-up scheduled for March 28 the annual Congress of the ARB annual report, in which the leaders of the ARB were subjected to the action of the Central Bank for “clearance” of the banking sector to harsh criticism. In the document, in particular, it is argued that the activity controller for the “clipping” of individual banks from public funds “takes on a very strange (if not to say cynical) form and loses all logic”.

In a statement, Alfa-Bank, published on the website of the credit organization, emphasizes the disagreement with some of the conclusions and assessments contained in the report in which the experts of Alfa-Bank did not participate.

“The style of the report containing the charges of the Central Bank of the Russian Federation in cynicism, favoritism, work in “military operations,” the intentional reduction in the number of banks, the Jesuit use of language, undermining the stability of the banking system, as well as suppressing competition, is contrary to the spirit of constructive interaction and cooperation that exists between the regulatory authority in the face of Bank of Russia and the healthy part of the national banking system,” — said in a statement.

The authors of the statement of Alfa Bank expressed confidence that the major threat of competition in the banking sector remains a weak and unscrupulous players.

“Banks that have lost capital, must be removed from the market. The Bank supports the efforts of the regulator to cleanse the banking system. To ensure a competitive environment it is important to avoid unjustified differences in the regulation of private financial intermediaries and organizations with state participation”, — the document says.

The proposal of the Central Bank according to the proportional regulation of credit institutions with the spread of the norms of the Basel standards for large, internationally operating banks, while reducing the regulatory pressure on smaller credit institutions, Alfa-Bank called reasonable.

“The practical challenge is to clarify the final legislative language and consider the real commercial interests of all groups of banks. This must be done in a calm and balanced dialogue, without loud slogans, accusations and labels. Thus, the Russian banking system should prove your maturity and willingness to change”, — summarized in the statement of Alfa-Bank.