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VTB Bank Chairman Andrei Kostin on bank regulations and the Russian government’s 71% stake in the bank.
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This morning -- business leaders from all around the -- offered their take on the global economy -- Clinton spoke with the chairman and president of BTB bank which is a big Russian bank.
-- -- -- It is a familiar story that US bankers are in a pressure cooker since the financial crisis began but.
What about Russian bankers you might be surprised that Russian -- rushing to meet with US bankers here in Davos Switzerland.
At the World Economic Forum and one of them is Russia's second largest lender.
DT B bank we are with the chairman and president under constant who open meeting.
Well I think the local fellow American -- so -- meeting the chairman's old -- JPMorgan Morgan Stanley Goldman Sachs Citigroup so.
Bank of America and to do sit around and complain about how everybody heats up on you lend is negative about bankers what do you talk about when there with them.
I think -- we've definitely.
For the change your view the what's happening you know country is and I think American making sector is doing quite well.
-- as well of course we the change your view on the what's happening regulations so they can set so about the bubble three and other and -- -- -- -- Mom.
As discussed but little business -- -- who would have a lot of but it will be isn't with the American men still Russian banks have to comply with Basel III.
Well yes they Russian -- explaining to -- use of the key elements so Basel two and level three of the same time during -- here.
Of course business that -- of time my doing reach the principals -- -- to a multi will be introduced but there that's quite substantial change.
For actually making.
Isn't going to be making life more difficult for -- you know more regulation sometimes means fewer profits.
Well definitely.
It will mean that's Russian making -- who require more -- -- and that's of -- Difficult task because -- my.
-- markets on -- very boots and to get you can't put so full of them making -- say he's not the task before we.
We're trying to find the April -- compromise.
With a settlement Russian Federation.
Quick claiming that's actually the him the two stole -- the economic growth.
Required as -- the lending pro social by the Russian banks I think -- that that'll be some compromise between that.
The human increasing.
-- -- of the months on capability within.
And the -- -- business.
How big a stake -- as the Russian government still happen TTP it's somewhat percent right.
Now I see when I go online and I'm researching -- you I see that.
There are these these moments where you have to stand in front of Russian president Vladimir -- and and talk to him about the business and he's saying.
Are you lending more to the military members are you doing military mortgages are you doing such and such a -- -- A what's it like to have to answer to the president of Russia.
I smiled.
Well you should forgive the there's always said with chunks.
To address or your clients also for the bank when you see the president on this.
I am not mean for us.
This that there is -- Asia I mean we got commercial bank.
We we -- Opal is these define the but any political targets but -- -- at -- too much smiled -- profits.
And of course so will people more katyushas and lending to minutes as sexy -- just one of them.
Bill Russian to sectors of the minute he Russian woman but -- was during the so -- -- it's still but you with the new program -- for no.
Facilities it's quite were profitable to be profitable because the government to -- for this so.
It's just bought the public -- -- in the -- warm on the mall less but it's yes and him that.
That you have mass media people is that trying to find what is more interesting for the public -- -- were awarded they -- of these because it was the most interesting -- all the discussions.
Under constant of BTB bank we know you are extremely busy meeting with all of the American bankers -- global bankers it's nice to have you stop by Fox Business thanks.
Let -- send it back to you in New York are.
