Is this the same ICICI Bank that claimed it would be No1 in Russia within 18 months of opening???
----- Original Message ---- From: K K Neelamraju <[EMAIL PROTECTED]> To: The Moscow Expat List <[email protected]> Sent: Thursday, February 21, 2008 11:33:27 AM Subject: Re: Expat List Citi bank - complaining 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 _______________________________________________ Expat mailing list [email protected] http://www.lists.ru/mailman/listinfo/expat http://www.expat.ru/forum/ _______________________________________________ Expat mailing list [email protected] http://www.lists.ru/mailman/listinfo/expat http://www.expat.ru/forum/ -- Krishna Kishore -----Inline Attachment Follows----- _______________________________________________ Expat mailing list [email protected] http://www.lists.ru/mailman/listinfo/expat http://www.expat.ru/forum/ ____________________________________________________________________________________ Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ
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