Alfa-Bank says quits Association of Russian Banks

MOSCOW, Jul 17 (PRIME) -- Alfa-Bank has withdrawn from the Association of Russian Banks (ARB) due to the association’s position on a number of issues, including the central bank’s activities to clean up the banking sector, Alfa-Bank said in a statement on Monday.

“Unjustified criticism by the association of a number of legislative initiatives (for example, on the proportional regulation of the activities of credit institutions), as well as the central bank’s activities to clean up the banking sector from dishonest participants, hampers the growth of the banking system’s prestige, client confidence, development of competition on the financial market and leads to a deterioration of quality of banking services,” Alfa-Bank said.

“Taking into account the abovementioned, we take a decision to withdraw from the association and consider all its further actions on our behalf to be unacceptable,” the bank said.

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