#4 - JRL 7282
Rosbalt
Russians Show More Trust in Commercial Banks
MOSCOW, August 7. Sberbank's share of Russians' personal savings has dropped
from 70% to 65% over the last three years. As a Rosbalt correspondent reports,
this was announced by President of the Association of Russian Banks Garegin
Tosunian at a press conference devoted to the 15th anniversary since the
creation of the first commercial banks in post-Soviet Russia. In his opinion
'the
falling number of savings accounts in Sberbank show that customers are showing
more interest in commercial banks.'
Mr Tosunian said the volume of savings in banks is actually rising by 50%
every year. 'Despite the government's lack of support, the shares of commercial
banks have trebled in value recently and more and more accounts are constantly
being opened,' he stressed. He said the widespread opinion that people do not
trust banks is simply a myth.
The Association of Russian Banks was formed in March, 1991. Since 1997 it has
been a member of the Banking Federation of the European Union, which
comprises three thousand European banks.
Aug. 9, 2003:
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