Fox Business
Expand
Browse All Video
Watch Live

You're watching...

First Russian Bank to Open in U.S.

Details

  • Description

    Andrey Kostin, VTB president, on why the bank has decided to open its first branch in America.

  • Duration 3:38
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The teen beat and -- -- stent is the president chairman and CTD bank it is.

He's in New York this week to open the bank's first American office right here in New York City -- joins us now thank you for joining us on sat.

I understand this is the first Russian banks in the United States correct why hero why now.

We're the only Russian bank that we each has quite the brought presents -- brought.

When now three -- in 22 countries.

Or -- of focus for us -- Russia and neighboring countries.

But we also have number one investments.

And business in the Russian so for us it's important to be here as New York is number one financial -- in the world.

On the flip side there was a lot of uneasiness ahead of the -- lead -- the elections which reelected -- not just not too long ago.

I'm give our viewers a sense of what -- -- business climate is like right now in Russia.

Both cause everybody's expecting.

No.

-- when the new government.

Comes to office we expect -- in the duration no -- that which in on the -- fills me will soon have a new government.

And everybody expects of course the program was governments we know that -- -- very high on the agenda will be securitization the issue.

And I think we expect more changes and more -- both political and the economic and Russian.

Political.

Reforms but you know the last time -- was in charge I felt.

The Russian stock market underperformed in part because it was always this feeling of a power grab.

It is our is that is that corporate sector in Russia comfortable now that that won't happen anymore or that that's not a risk.

Of course we had pre election time columnist which in one very -- -- was to sort of the available to.

These connections so we expect that we'll see more interest from all on -- -- invest those.

Russia denies the fact that in -- that we have a very groups micro economic.

Results.

The environment for investors are still -- will enough Russia -- -- low.

All the chalked up for investment climate and I think both mr.

wooten and -- negative for commodities I think -- trying their best to improve.

Jewish and I think that's also issue.

At least at the feeling of Russia's bring a very corrupt country.

And certainly you know the did the amount of potential that Russia has the resources and -- momentum that announces an economy.

It would be crazy to do -- that at this point.

Wanna talk about your move to New Yorkers as an investment bank not a commercial make -- investment bank -- is this is a brokerage company which mainly will be trading with a rough from stop.

So and net.

And and fixed -- come.

And whom I would do it is and also be of some -- the reference point for American investors would like to invest in Russia.

Years -- and joining us at a time where there's a lot of uneasiness in this economy about the jobs picture about the housing market.

-- -- -- is why are you willing to overlook that and starts and and and and and former branch right now.

We continue to brought us to focus -- rush around and we expect that unless that is.

General recession in all around the world Russian economy will be doing -- to -- well.

We've this year we expect the GDP growth so for at least you know half -- -- So we have quite positive on developing over -- Russian non banking sector in -- in -- -- -- And part of that include all of those -- -- -- our cutesy here.

-- -- European all right but the big move yet well congratulations thank you very much under a coast and in DTV Banc thank you very much.

Load More