Folks

I work for india's 2nd largest bank - ICICI Bank - which set up operations
in Russia an year and a half ago... I just moved to moscow ofcourse, as a
product manager for consumer banking...

Our interest rates are much better.. and we are moving up fast on the
customer service learning curve!!

This feedback about a giant like Citibank definitely interests me!

2008/2/20 Emin Aliev <[EMAIL PROTECTED]>:

>  Well, maybe we should all do something about it?
>
> How about starting our own bank! Or a Credit Union - first for expats,
> then - for everyone else! We will have the best interest rates in the
> country!  And low, low wire transfer fee for the money going overseas... ;-)
>
> Who wants to chip in?  I've got a spare $2...
>
>
>
>
> - Emin
>
>  ----- Original Message ----
> From: Vladimir Afanasev <[EMAIL PROTECTED]>
> To: The Moscow Expat List <[email protected]>
>  Sent: Wednesday, February 20, 2008 12:35:22 PM
> Subject: Re: Expat List Citi bank - complaining
>
> Julian,
>
> What will they do, can I ask you? Russian law prohibits western banks
> to establish direct branches here. Citibank here is incorporated as
> ZAO KB Citibank, it is purely a Russian company, with its own balance
> sheet, P&L etc. What you see is just the brand name that you know, but
> what's behind it is completely different from the west.
>
> If Russia gets into a new financial crisis, Citibank in the US will
> assume no obligations of ZAO KB Citibank in Russia if this Russian
> bank also experiences financial difficulties. Same for Raiffeisen, it
> is also another ZAO.
>
> For me, roots of the problem lie not in the poor supervision from the
> US management, they are in the poor state of the service sector in
> Russia, the fact that its economy depends only on exports of oil and
> gas, that there are numerous stupid regulations which make the conduct
> of private business very difficult, widespread corruption,
> deteriorated educational system, nepotism which makes young people
> believe that working hard is useless because you will not achieve
> anything, etc.
>
> Of course there are positive sides like high oil prices, increasing
> stabilisation fund, hard currency reserves, single party of power, etc
> but all these benefits are not for you, Julian, not for myself, not for
> many other people living in this country. Nobody will hear your voice.
> Because there are so many people who will continue to use
> Citibank/RZB/other banks just because they accept such service is
> normal.
>
> All the best
>
> Vladimir
>
> Wednesday, February 20, 2008, 8:57:38 AM, you wrote:
>
> > People, Don't just accept this! You all have access to the Internet!
>
> > I just cut and pasted the last big email about citi bank and sent it to
> > the board of directors in America. ( I removed email addresses)
>
> > You have a voice, use it!
>
> > I
>
> > Julian Beirne
> > Moscow
>
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-- 
Krishna Kishore
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