Alexei Kudrin, Finance Minister, Russia

Russia’s finance minister Alexei Kudrin (right) welcomed the country’s forthcoming adoption of international accounting standards at The Banker’s Top 50 Russian Banks presentation recently, as Stephen Timewell reports from Moscow.

The low capital base of the Russian banking sector is a serious concern; it could hamper the country’s ability to achieve its ambitious growth targets. But there is growth.Stephen Timewell reports from Moscow.
The Russian economy may be growing strongly, with latest GDP growth estimates put at 5.8% in 2004, but Russian bankers are concerned about the low capability of Russia’s banks and their lack of access to long-term funds.

Alexei Kudrin, Finance Minister of the Russian Federation and The Banker’s Finance Minister of the Year, talked to Karina Robinson in London about the challenges facing the Russian economy in what looks like a defining moment in its path towards becoming a liberal market economy.

Despite turbulence in the banking system this summer, the overall forecast is good for the financial sector.

While Russia’s central bank had to rebuff talk of a crisis this year, a surge in retail and investment banking went unnoticed. Meanwhile, the crisis that never happened also spurred reforms, writes Ben Aris.

Alexander V Zakharov, deputy chairman of the board of Sberbank, explains how the Russian bank has overcome various challenges to financing some of the country’s major domestic and export-oriented investment projects.

Moscow-based Globexbank is one of Russia’s top 10 banks, and the crises of the 1990s and the recent mini-crisis have made it stronger. Ben Aris reports.

With Russia’s banks failing to lend, it’s left to Russian companies to fend for themselves, showing an upturn in project finance.

Ben Aris reports from Moscow on how the banking crisis and policy changes have all but stalled the domestic bond market.