non-financial development institution
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Костин Андрей

Andrey Kostin

President, Chairman of the Management Board, Member of the Supervisory Council, Member of the Strategy and Corporate Governance Committee, VTB Bank
Quotes
23.10.2019
Russia- Africa Economic Forum 2019
Introducing Russia to Africa
A promising area of cooperation involves attracting big Russian investors in industries strategic for many African countries, such as agriculture, mining or processing raw material
23.10.2019
Russia- Africa Economic Forum 2019
Russia and Africa: Uncovering the Potential for Cooperation
Apart from the ever so interesting commodities sector, promising investment opportunities include the energy sector, agriculture processing, urban development, fishery, education and medical services, and infrastructure development
23.10.2019
Russia- Africa Economic Forum 2019
Russia and Africa: Uncovering the Potential for Cooperation
Lowering the risks. Unfortunately, today we live in an era of geopolitical uncertainty. We have tangible risks in the financial system, and we suggest expanding the non-dollar transaction practices, including those in Russian roubles
07.06.2019
SPIEF 2019
Business in National Development Projects: Ways to Succeed
National projects are key. If we carry them out, we will achieve a different pace of development and a jump in the economy; it is very important to carry them out
07.06.2019
SPIEF 2019
Business in National Development Projects: Ways to Succeed
If we consider 5 years for the implementation of national projects, then for infrastructure this is an awfully short time. <...> We need to get started [implementing national projects] <...> right now, urgently. Otherwise, the money that has been allocated will be lost
14.02.2019
Russian Investment Forum 2019
Transport in Russia: Supporting the Development of Major Infrastructure as a Cornerstone of Economic Growth
“We basically have very few mechanisms of coordination between the federal government and regional business. If we have gone through all authorities, including the commission headed by the vice-president, submitted all documents, then in terms of finance everything is worked out. If we want to meet the deadlines and carry out projects, let’s bring decisions to a close. We have to quickly refine and implement the system. We have only six years left,
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
Banks will continue to provide banking services as a key type of services. Some of my colleagues in Russia believe that the traditional banking business will be converted into some kind of hi-tech companies or something like that. … And yet people will continue to come to bank offices. They need to be sure that the bank still exists, that their money is there. At the same time, they will not apply to banks for some simple services such as housing payments or money transfers, and this is where new technology is needed
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
Issues of regulation are very important now. I think that, since the 2007 crisis, the financial market has been overregulated. All European countries, including Russia, look at the United States and see that the American banks are in a better position. This is an additional driving factor for the economy
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
The role of the government in Russia’s banking sector is rather high, perhaps 55–60% of assets in Russian banks belong to the banks heavily controlled by the government. There are two important things here: they work in the same competitive environment and follow the same principles as their rivals. … In most countries, in China and India, partially state-owned banks play a very important role. They are very strong. I do not think that state participation is necessarily an evil, provided that all play by the same rules