Members of the Association of Russian Banks proposed to prohibit employers from imposing payroll banks at the legislative level during a discussion of measures to equalize competition in the banking sector, an Izvestia correspondent reports.
Oleg Mashtalyar, Deputy Chairman of the Board of Sovcombank, proposed four areas for leveling competition in the banking market. According to him, the first is just emerging: large retail operators, developers, car dealers are developing financial instruments outside the regulatory field. In particular, they provide installments for groceries, cars and mortgages. In terms of the amount, this is approximately from 10 billion rubles to 100 billion, he estimated, noting the need to pay attention to the scale and significance of this problem, which distorts the picture of the client’s debt burden. Two more areas relate to the use of economies of scale and cross-subsidization to ensure growth, as well as the unification of banks’ access to public services, excluding individual services by agreement between the state and the bank with its share of participation.
Separately, the presentation highlighted the area of wage slavery. A number of measures have been proposed to reduce the concentration of salaries in the market by half within 5 years. Namely, a legislative ban on the offer of a salary bank to an employee, as well as on the provision of preferences in financial services by individuals when implementing a salary project. It was also proposed to introduce into the Code of Administrative Offenses liability against employers for imposing an organization, increasing the fine from 50 thousand to 500 thousand rubles, as well as to create a state service for the choice of a bank employee for crediting salaries and develop an SBP platform for transferring them to registers.
According to the Central Bank, in 2020 the share of state banks in assets was 67.8%, in loans and deposits – 73% and 73.2%, respectively. 98% of lending institutions are fighting for only one third of the market.