The head of T-Bank said that small banks work “for the soul”
The head of T-Bank compared small players of the financial market with taxi drivers who work “for the soul”, and said that the era of traditional banking is a thing of the past
Credit institutions that are not in the top 50 largest in Russia exist mainly for their shareholders or managers. This opinion was expressed by the head of T-Bank Stanislav Bliznyuk at an event dedicated to the platform economy, RBC correspondent reports.
According to Bliznyuk, traditional transactional banking has already lost its former importance. He compared the work of small credit institutions to a joke about taxi drivers who are engaged in transportation "for the soul" because they have "another business.".
If you take the banks in the top 30, well, not to offend anyone, the top 50, in general, these are banks for current shareholders or bosses. They are so, for the soul, said Bliznyuk.
Earlier, in April, Deputy head of the presidential administration Maxim Oreshkin said that the banking sector is waiting for a radical transformation. Now competition is based not on closed arrays of information, but on the quality of algorithms and services. The traditional banking model has exhausted itself. “Banks in their traditional form should actually die,” Oreshkin said.
The reason for this, he said, is the high cost of financial intermediation for the economy and society.
