Financial market

Financial market

The financial market of the Krasnodar Territory is made by the markets of the bank, insurance, other financial services and securities. The high degree of concentration in all sectors (exchange market, markets of credits, deposits, shares and bonds, etc.) is a feature of the Territory developed financial infrastructure. The steady specialization of the trade sites established.

The status of the regional financial formations is borne by 17 insurance companies and 24 independent credit organizations, among which ОАО «Kraiinvestbank», Commercial bank «Kuban Kredit», Joint stock bank «Yugbank», Incorporated bank «Yuginvest-bank» are the leaders. Seven bank branches of the regional banks function in other regions of Russia. Furthermore, 37 departments of the Russian Federation Savings bank and the branches of 60 out-of-region insurance companies and of 43 out-of-region banks such as Vneshtorgbank, «Alfabank», «Bank of Moscow», «Rosbank», «Rosselkhozbank», «Rossijsky Kapital», «Petrokommerzbank», «Vserossijsky Bank Razvitiya Regionov» operate over the space of Krasnodar Territory.

The banking sector of the Krasnodar Territory figures prominently among the others in the South Federal District both for the number of the credit organizations and for the parameters of their activity. In resources structure of the credit organizations operating in Krasnodar Territory the regional branch network of the Savings Bank appears predominant — 59%, the banks of the Territory occupy 22% sector, and the out-of-region banks account for 19%.

The Kuban banks proved their survivability. «Yugbank» and «Yug-investbank» adequately represent the Territory in the ratings of the leading information agencies of Russia. «Yugbank» falls into first hundred national banks by amount of assets and other financial measures. Kuban ranks third among the regions of country in the number of independent commercial banks and has the lead in the North Caucasus. The Territory is a leader in the South Federal District for the sum of lending indebtedness, deposits and holdings of population and is second best in the sum of ownership capital.

The «Kraiinvestbank» is a leader among the banks of the Territory in amount of the ownership capital. It was founded with the aim of control over the use of the budget means, and 99% of its authorized capital stock is owned by administration of the Territory.

The financial infrastructure of the Krasnodar Territory was created allowing for the state and the prospects of the region’s economy development and also under the influence of the federal monetary and regional budget policy. The public authorities made a great figure in support and stimulation of the regional economy.

The volume of the banking system liabilities of the Territory steadily trends towards the increase. The structure of liabilities shows the predominance of the outside funds — 93%. About 60% of those is accounted for by the holdings of population, the sums of which tend to grow from year to year. The preponderant position in attraction of retail deposits is still held by the RF Savings Bank network of branches — 81%.

The development and strengthening of banking system is economic policy key task of the Krasnodar Territory administration that is active in displaying legislative and normative initiative to provide the stability of the credit organizations. In behalf of the depositors the antitrust regulation is carried out and competition environment is built up in the Territory.

The regional commercial banks gradually enhance their client base, augment steady capital and extend the range of the services to be rendered, introduce new methods and instruments of credit activity. The annual rate of profit increase of the regional banks averages 15%.

The Territory market of insurance services tenders all the kinds of classic insurance both for the physical and legal persons. Among the largest insurance companies of Kuban are «Rosgosstrakh- Krasnodar», «Monolith», «Insurance Transport Company of Kuban», «NOSTRA» (Novorossiysk), «Kubanmedstrakh-Plus».

The increase in insurance premiums through the gain in receipts from the physical and legal persons life and property insurance is evidenced. Indicative of insurance market development is a stable growth of the voluntary insurance. Its proportion in the structure of receipts reached 97%. The high economic potential of Kuban provided the high level of securities market development.

Currently Krasnodar Territory is one of the promising strategic regions of Russia. The region enjoys stable political situation, and the solid base was established for the steady economic growth.

At present Krasnodar Territory is the South Federal District leader in the rating of emission activity. Within bounds of Krasnodar Territory about 2873 joint-stock companies are in action to comprise approximately 35% of the total number of the joint- stock companies registered in the Southern region.

The considerable number of professional participants skilled in the practical work in stock market (currently in the Territory 19 companies holding the RF Securities Federal Commission granted license for securities activity, of which 176 companies have a license for brokerage in securities, 11 — license for dealing, 4 — license for administration of securities) is a positive trend in the stock market development.

The largest emission activity is evidenced in agribusiness, health-resort, construction and transport complexes.

The further development of stock market makes provision for arrangements aimed at the creation of optimal conditions for carrying out investment activities. The development of securities market is performed in the lines as follows:

  • the formation of institutional mechanism and efficient infrastructure securities market;
  • improvement of exchange business mechanism, creating favorable conditions for attraction of foreign investors;
  • development of institutional investors (management company, unit investment trust, pension funds, insurance funds and companies);
  • implementation of farm-mortgage lending;
  • creation of conditions for corporate bonded borrowing and corporate bond issue, improvement of RF securities legislation.

Among the priority trends in financial market development the further growth of insurance services market, stock market and development of farm-mortgage lending mechanism may be marked.

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