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Kostin: Russia Needs More Regulation

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    Andrei Kostin, VTB chairman, on Russia's economy, debt outlook and political arena.

  • Duration 3:39
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Your focus turn to Russia -- What happens when you're -- bank and one of your biggest sources of funds says you know what we've cut troubles of our -- we've got to cut back on giving you what we have in the past.

That's what Russian banks are dealing with right now add to that political unrest in their country.

And what kind of landscape do they really have to navigate around.

Let's ask -- cost and who's the chairman and CEO of -- eighteen bank Russia's second largest lender good to see -- once again.

First of all you met with a bunch of bankers yesterday and US Treasury Secretary Tim Geithner.

What was the atmosphere there was it positive -- that pessimistic.

-- In front -- what was it four I think come both politicians and bankers.

Made only way to meet each other him on the on the -- I think when -- -- each -- much better tomorrow.

Then 23 years ago and I think we cut a -- together to work on the new met in the moment you -- on the and you supervision rules I think that's quite important.

Secretary Geithner often -- such as an iron fist sometimes when he's speaking to business people says you need to do this you need to do that was he telling you -- -- guiding you at all in any way.

Guys from friends the only Russian -- he was very specific Hewlett sharper and in the bank of also were -- certificate that because.

The -- said -- -- M a law have been.

To understand each other about of this -- quite different -- before -- approaches.

But if it's -- -- -- -- -- so I I also.

Still by is speaking to American bankers leading American bankers as well as European.

And that the bands in the knowledge is a much better shape from the board to fuel Stifel Nicolaus there resulting BC's UN little talking now about a hundred sold billions over dole -- -- -- Focus that is nation's home I think -- -- is going to bets of pro redundant expect.

As well the European banks who at least Western European banks have been primary source of funds for the Russian banks and -- I says they have their own troubles they've scaled back.

Are you starting to see any warning any fine of that -- months or is it still not a place where you have to say we've got to find out.

-- opportunity selfless West Bank says cutting down on the balance sheets and they McClendon.

Much money into Russian companies which.

More on the other hand -- -- -- -- for us because we are replacing them in the -- we actually.

We're increasing though share in the -- Because the less competition.

But the problem for Russian banks that is I'm not -- -- and that markets.

International markets and of course there that the nearly impossible not to -- So we are more focused on domestic sources about.

Life easier for four of these time because we get used to situation -- to -- the two and the crisis happens.

And -- -- -- a couple community from international -- -- funding so now we -- and the problem and we hope we're coping with us as we finish what's the number one challenge Russian bankers really -- Well.

I think that's.

Four Russian banking sector the last few of those didn't successful this year is quite goats at the moment just have to be bailed out by the Russian central -- And but no I mean for us I think I think we needs about the supervision.

We need but the spectacle.

-- practice.

But I think -- -- -- such as capital adequacy and the degree to -- Supervision is that another word for regulation for regulation while not often you hear bankers say we need a bit more we do any of.

Are you gonna have more from Liz from --

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