The first Japanese banks date back to the 17th century. Their emergence was facilitated by the rapid growth and development of industry, trade, and agriculture. Specialized banking institutions, such as the Long-Term Credit Bank, the Industrial Bank, and the Agricultural Cooperative Bank, were called upon to regulate the loan process. Today, the Japanese banking system is considered one of the most successful in the world.

Specifics of the Japanese banking system

Compared to Europe, the Japanese banking system has emerged relatively recently, based on the American model, and is currently developing successfully. Japan's share among the world's leading banks has been steadily increasing in recent years. Powerful financial and industrial groups heading Japanese banks are making large-scale industrial investments in the economies of the United States, Western Europe, Asia and Australia. The state exercises control over the activities of Japanese banks and is largely responsible for their work.

The Japanese banking system is represented by private banks, credit associations, government financial institutions, as well as branches of foreign banks. The characteristics of the Japanese banking system imply the existence of its three-level model, which makes it possible to provide credit resources to all parts of the economy at each level.

The levels of the Japanese banking system include:

1st level – Central Bank (Bank of Japan), is the central banking institution of the country; manages all banks in the country, including 11 state-owned, as well as private banking companies;

Level 2 – national commercial banks: city and regional banks, trust banks, long-term lending banks, foreign banks. These banks are the backbone of Japan's banking system - their total capital is about 80% of the total capital of the country's entire banking system.

Level 3 – cooperative credit institutions: credit associations, credit cooperatives, labor credit cooperatives. They provide financial support to small businesses in various areas of the Japanese economy. Credit institutions for agriculture and forestry account for 7% of Japan's total banking capital.

The most famous Japanese banks are: Industrial Bank of Japan, Mitsubishi UFJ Financial Group, Mizuho Corporate Bank, Long Term Credit Bank of Japan, Nekton Credit Bank, etc. They work with mortgage loans, conduct operations on the international foreign exchange market, and issue loans to long term for world industrial leaders, etc.

The peculiarities of the Japanese banking system are that the leading Japanese banks are headed by financial and industrial groups, that is, industrial companies are grouped around the banks.

Currently, there are six main financial and industrial groups in Japan, the core of which are the largest city banks Mizuho, ​​Mitsubishi, Sumitomo, Fuji, Sanwa, Dai-Ichi Kangyo.

Activities of the Central Bank of Japan

A special role in the banking system of the Land of the Rising Sun belongs to the Bank of Japan. More than 50% of the shares of the country's main bank are owned by the state. The main functions of the Bank of Japan, in addition to issuing money (this is its monopoly right), include monetary regulation of the economy, including the implementation of international payments, transactions in the foreign exchange market, as well as cash services to the treasury.

And finally, the most interesting thing is the restriction of travel abroad for debtors. It is the status of the debtor that is easiest to “forget” when getting ready for your next vacation abroad. The reason may be overdue loans, unpaid housing and communal services receipts, alimony or fines from the traffic police. Any of these debts may threaten to restrict travel abroad in 2018; we recommend finding out information about the presence of debt using the proven service nevylet.rf

In its work, the Bank of Japan is guided by a 70-year-old law that placed it under strict government control and gave the Minister of Finance the power to change the Bank of Japan's policies. The supreme interests of the state in the financial and monetary spheres, as well as the policy of the central bank, are determined by the Political Committee (Policy Committee). He makes decisions that relate to the actions of the Bank of Japan, develops a course of banking activities, evaluates loan collateral, sets the timing of monetary transactions on the market, etc.

The Central Bank of Japan licenses banking activities, sets the minimum amount of the bank's authorized capital, issues permits to change the name of the bank, merge banks, create and liquidate branches, conduct transactions with government securities and transactions in financial markets, carry out international activities, issue banknotes, regulate accounting rates, etc. The Bank of Japan is headed by a president and a directorate.

Features of the activities of Japanese commercial banks

There are several types of commercial banks in Japan:

  • city ​​banks;
  • regional banks;
  • foreign banks.

City banks are mainly engaged in lending to large industrial companies. The total capital of the 11 city banks is about 35% of the total capital of the Japanese banking system. The leader among city banks is Bank of Tokyo, which has connections with more than two thousand banks around the world.

Quite recently, commercial banks in Japan received the right to trade securities, and this was the beginning of the process of universalization of city banks. Today, city banks are expanding their boundaries and entering new markets.

Japan also has 64 regional banks, which are mainly located in small and medium-sized cities. For the most part, they are focused on issuing loans to small businesses and transactions with individuals.

As for foreign banks operating in Japan, they differ significantly from each other both in the size of their assets, turnover, types of main operations, and in the position they occupy in the country's banking system. At the moment, it is impossible to say exactly how many banks there are in Japan with foreign capital. However, the dominant position among foreign banks is occupied by financial institutions of the United States and Great Britain. For example, three American banks, First National City Bank of New York, Chase Manhattan Bank and Bank of America, account for about 30% of all loans provided by foreign banks in Japan.

Despite the fact that foreign banks have the same rights in Japan as local banking structures, they are not particularly popular among the Japanese.

Rating of leading banks in Japan

Currently, the list of leading Japanese banks includes:

  1. Bank of Japan (opened 1882).
  2. Bank of Nagoya is one of the largest regional banks, with more than 80 branches in all cities of Japan; offers deposit, credit, leasing services.
  3. Bank of Saga Ltd. – has branches in Nagasaki, Saga, Fukuoka, Tokyo; works with individuals and companies.
  4. Bank of Yokohama - established in 1920, actively operates in Kanagawa and the capital. Branches are located throughout Japan, as well as in the UK, China, and the USA.
  5. Mitsubishi UFJ Financial Group is an extensive banking group and the parent company of Bank of Tokyo-Mitsubishi.
  6. Oita Bank - founded in 1893, has branches on the island of Kyushu, offering leasing and investment services.

Procedure for opening a Japanese bank account

Opening an account in Japan is quite simple - even tourists can do it, but only if the person can present documents giving the right to permanent residence in Japan. Most banks are content with only this, but there are also those that may ask to present a personal seal.

Most banks do not require you to open a deposit and do not charge fees for account transactions. At the same time, the largest banks in Japan offer a minimum interest rate.

The refinancing rate in Japanese banks is very small, so cooperation with banks turns out to be very profitable for companies and holdings.

You can close an account at any bank branch if you have all the necessary documents: bank card, bank book, registration document.

Features of lending in Japan

Almost the entire working population of Japan uses loans. The popularity of lending is explained by low interest rates and long repayment terms. In addition, remote banking in Japan allows you to take out minimal loans without much difficulty simply through ATMs.

Mortgage lending in Japan

Japan is one of the most loyal countries in terms of mortgage conditions. The interest rate of the Bank of Japan on the loan is only 2% per annum, and the loan term can be up to 50 years. If a person fails to repay the loan during his lifetime, the debt passes to his children. The down payment is 10% of the market value of the selected property.

Brief description of Japanese real estate

The Land of the Rising Sun is quite expensive to live in, but here it costs incredible amounts of money. And yet, it is more profitable for both native Japanese and foreigners to buy housing than to rent it. A mortgage is the only way for Japanese people to afford to buy a home.

Bank transfers

Money transfers are one of the most popular services in Japan. They are used to pay for purchases and utility bills. Transfers are carried out both with the help of bank employees and ATMs. In this case, the sender must pay a commission in the amount of 200-500 yen.

Deposit insurance concept in Japan

The deposit insurance system in Japan is a mechanism for protecting individuals' deposits from partial or full losses caused by the bank's failure to fulfill its obligations. The deposit insurance system in Japan is managed by the Deposit Insurance Corporation. Insurance compensation is paid from the insurance fund only if deposits were made in national currency (yen), up to a maximum of 10 million yen.

Banks in Russia and Japan. Where is it better: Video

In Japan, as in most countries of Europe (France, Croatia, Czech Republic, Montenegro, Austria, Great Britain, Spain, Germany, Greece, Bulgaria, Italy, Poland, Switzerland) and Asia (Indonesia, Malaysia, Philippines, Iran, China, Australia , Israel, India, Thailand, Singapore, Vietnam), there is one central bank and a certain number of regional banks.

Bank of Japan is the national bank of Japan, founded in 1882. In 1885, it began issuing banknotes that could be exchanged for silver. Since 1897, the country has adopted gold coins and yen issued by the bank and received the status of legal tender in Japan. Since 1942, the bank has been controlled by the government of the country, and the Japanese Minister of Finance has the right to autonomously change the by-laws of the national bank. It was only in 1998 that the National Bank of Japan gained independence from the Ministry of Finance.

The Central Bank of Japan is a joint-stock company in which 55% of its assets are owned by the Government, the remaining 45% are owned by financial institutions, insurance companies and other private shareholders. The percentage of dividends for shareholders is 4%, and sometimes increased to 5% in cases where the bank receives significant profits. The bank donates the bulk of its profits to the state budget.

The bank's functional responsibilities include: issuing money, implementing monetary regulation, implementing mutual settlements between commercial banks, monitoring and conducting operations in the government securities market, participating in the country's international activities, as well as carrying out economic and theoretical research.

Mitsubishi UFJ Financial Group is the largest Japanese and global banking group, with total assets of 204 trillion. yen Among Japanese banks it has the most developed network of foreign branches and representative offices. MUFG operates in approximately 50 countries around the world. MUFG provides a huge range of financial services: servicing commercial and retail clients, trust management of client assets, operations on the securities market, issuing credit cards, leasing, consumer lending and much more.

The financial group was formed in October 2005 as a result of the merger of Japanese conglomerates - Mitsubishi Tokyo Financial Group and UFJ Holdings. The banking group's shares are traded on world stock exchanges (MICEX, RTS, SP 500) in New York, Beijing and Tokyo.

Mitsubishi UFJ Financial Group includes five Japanese companies, as well as the American financial holding company UnionBanCal Corporation.

Sumitomo Mitsui Financial Group - founded in 2001, as a result of the merger of Sakura Bank and Sumitomo Bank. One of the most important financial groups in the country, it acts as a holding company for the second Japanese bank by capitalization - Sumitomo Mitsui Banking. SMFG is engaged in retail, corporate and investment transactions, financial transactions with securities, client asset management, lending to individuals and legal entities. The bank has a network of branches, which consists of 450 regional branches and 20 foreign ones. Sumitomo Mitsui Financial Group includes both national divisions (The Japan Research Institute, Sumitomo Mitsui Banking Corporation, SMBC Friend Securities, SMBC Leasing Company) and Californian - Manufacturers Bank.

Mizuho Financial Group ranks third among banking financial groups in Japan, behind only Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group. MHFG consists of two divisions - Mizuho Bank and Mizuho Corporate Bank.

The financial group's activities began in 1999, after the merger of Dai-Ichi Kangyo Bank with Fuji Bank and Industrial Bank of Japan.

Mizuho became the first Japanese bank to reach one trillion dollars in assets - and this is reflected in its name, Mizuho - translated from Japanese as Golden Ears of Rice. By the end of 2009, the bank had assets of over 1.5 trillion. dollars. Its shares are traded on the New York, Osaka and Tokyo stock exchanges.

Mizuho Financial Group consists of divisions - Mizuho Bank, Mizuho Corporate Bank. Mizuho Securities, Mizuho Trust & Banking, which operate in various areas. The main ones are: provision of services to individuals, small and medium-sized businesses and local governments, provision of financial services for large Japanese organizations, financial institutions of national and foreign origin, provision of brokerage (forex broker rating, ECN Forex) services, execution of consulting and trust services.

Mizuho Bank serves 25 million individuals and more than 90 thousand organizations, has 500 branches and 11 thousand ATMs.

Bank of Nagoya is a regional bank in Japan, founded in 1949 and has about 100 branches in major cities in Japan and China. Primarily engaged in servicing businesses and individuals. The bank provides a line of deposits and loans, leasing services, and carries out transactions with securities.

Bank of Saga Ltd. - a regional bank with 110 branches, which are located in Saga Prefecture (65 branches), Fukuoka (40 branches), Nagasaki and Tokyo - the remaining 5 branches. Serves both corporate clients and individuals.

Bank of Yokohama - was founded in 1920. The main location of the bank is Kanagawa Prefecture, as well as the south of the Tokyo metropolitan area. Bank of Yokohama has 200 regional branches, almost 400 ATMs and several overseas branches in New York, London, Hong Kong and more than 4,600 employees. The total amount of assets is approaching 13 trillion. yen

Japan Bank for International Cooperation is a “young” bank that began its existence in 1999 as a result of the merger of Export-Import Bank of Japan and Overseas Economic Cooperation Fund. It operates in 18 countries and belongs to the international division of Japan Finance Corporation.

Nanto Bank was founded in 1934 and has 135 regional branches. The bank provides standard transactions for individuals and legal entities. The bank's representative offices are located in many prefectures - Kyoto, Wakayama, Hyogo, Osaka, as well as in Hong Kong, Tokyo and Shanghai.

The Japanese banking system is one of the most developed financial systems in the world, and Japanese banks are ahead of financial institutions in the Baltics (Estonia, Latvia, Lithuania and Finland), the Caucasus (Abkhazia, Armenia, South Ossetia, Azerbaijan, Georgia), Africa (Tunisia, Egypt, Libya ), Turkey and some countries of the former USSR (Moldova, Kazakhstan, Tajikistan, Uzbekistan, Kyrgyzstan, Belarus and Ukraine).

Not new for clients of banks around the world (Belarusian, Russian (Sberbank, Alfa Bank, VTB Bank), European, Ukrainian, as well as US and Swiss banks) is the ability to carry out financial transactions through electronic payment systems (Yandex money, Webmoney, Qiwi, PayPal ). With their help, you can carry out all financial transactions, from paying for a visa to purchasing tickets to concerts of show business stars (Philip Kirkorov, Nikolai Baskov, Alla Pugacheva, Anastasia Volochkova, Ani Lorak, Kristina Orbakaite, Ksenia Sobchak).

Japanese banks take part in options trading, trading a variety of futures, such as gold, silver, oil, gasoline, gas, coffee, wheat, cotton, sugar and other goods (the world's most expensive cars, yachts, phones, dogs and diamonds ).

Japanese banks have branches in many countries - the USA, Canada, Mexico, Cuba, Brazil, the Dominican Republic, EU countries, as well as in Russia (Moscow, St. Petersburg, Dagestan of the Russian Federation, Ingushetia, Chechnya of the Russian Federation, North Ossetia), allowing their clients to use the services bank outside the country for tourism while traveling. Clients also purchase real estate and cars (Toyota, Mazda, Hyundai-Kia, Nissan, Ford, Chevrolet, Volkswagen, Mercedes, Opel, Renault, Audi, BMW, VAZ, UAZ) using bank cards.

The currency of Japan is the Japanese yen, which is also the main reserve currency in the world after the US dollar and the euro. The Japanese currency exchange rate (as well as many others - the pound rate, the Swiss franc rate, the Australian dollar rate, the Singapore dollar rate, the Canadian dollar rate, the New Zealand dollar rate, the yuan rate, the Russian ruble rate, the Belarusian ruble rate, the hryvnia rate, the tenge rate, the Lithuanian litas) are published daily on the pages of world (The Guardian, The Financial Times, The New York Times, Forbes) and Russian media.

Japan.

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In 1873, national banks were established in Japan based on the National Banking Act, which was almost a copy of the American law of 1863. Until 1876, the ability of banks to finance industry and trade was limited due to the insufficient metallic coating of banknotes issued by banks. In 1876, banks received the right to issue banknotes against government loan bonds, as a result of which the number of banks in the country increased sharply, and at the end of the 1870s there were already 151 banks in Japan.

The sharp growth of banks and uncontrolled emissions led to an increase in inflation. In order to prevent the collapse of the economy, the Bank of Japan was established in 1882. The bank was founded for a period of 30 years, and its main purpose was to reduce inflation.

Since 1885, the bank began to issue banknotes exchangeable for silver. The law of 1889 established the rules for banknote issue. Henceforth, banknotes issued by the Bank of Japan for circulation were required to be covered 100% in silver, with the exception of the uncoated limit of 70 million yen; in 1897 the uncovered limit was increased to 85 million, and in 1899 to 120 million yen. The Bank could issue additional notes beyond the established limit only with the permission of the Minister of Finance. In this case, he was obliged to pay a tax on the issue (at least 5%), the rate of which was set in each individual case by the head of the Ministry of Finance of Japan.

In 1897, Japan switched to a system of gold monometallism, which was facilitated by the indemnity received by Japan from China under the Treaty of Shimonoseki. Banknotes could only be issued by the Bank of Japan and, at the request of their holders, exchanged for gold at their cash desks. The yen issued by the bank became legal tender throughout the country. The Bank of Japan paid a monthly tax of 1.25% per annum on issued banknotes. Since December 1931, the exchange of Bank of Japan banknotes for gold was stopped.

Subsequently, the life of the bank was extended for another 30 years, and in 1942 a law was passed under which the Bank of Japan became controlled by the government. The Minister of Finance of Japan received the right to independently change the bank's by-laws. In 1949, the Political Council was created, which began to determine the interests of the state in the field of monetary regulation. In 1979, the Bank Law was modernized and the central bank was given perpetual status. On April 1, 1998, the new Bank of Japan Law came into force, according to which the bank became independent from the Ministry of Finance.

Functions

The Bank of Japan performs the following functions:

  • implementation of monetary policy (changes in the norm of required reserves, operations in financial markets, regulation of the discount rate);
  • carrying out mutual settlements among commercial banks;
  • monitoring and auditing the financial position and management of financial institutions;
  • conducting transactions with government

The banking system of Japan is represented by two parts: the central bank (Bank of Japan) in the organizational structure, which includes - a political council (chairman, two deputies, six members), three executive auditors, three executive directors, eight advisers; commercial banks: city banks, regional banks, trust banks, long-term lending banks, foreign banks.

Japanese banks perform the following operations - pay various companies for utilities, pay for purchases in stores, transfer money to the account of his clients for the work they have performed, and even independently contact the employing companies if wages are not received in the client's account on time.

Main elements Japanese banking system There are about a dozen of the largest private banks operating throughout the country, more than sixty private local banks operating within one prefecture, and three of the largest private long-term lending banks.

The Bank of Japan, which is the country's central banking institution, plays a special role in the country's banking system. Bank of Japan manages all banks in the country, including state-owned banks. There are 11 of them in Japan.

The Bank of Japan also controls private banking companies. Along with the Ministry of Finance, the country's central bank has the right to audit the funds of any private banks at any time. The results of these inspections are regularly submitted to the Ministry of Finance, and on their basis, the financial department can punish private banks for violations of the law, up to and including depriving them of their state license to conduct banking operations.

Japan has one of the most developed electronic banking systems in the world.-- there are more than 100 thousand electronic banking machines in the country.

The credit card system, which was born here in 1960, has been widely developed. There are more than 110 million electronic bank cards in circulation in the country.

Today, almost every Japanese has electronic cards from several banks, which allow them to withdraw the required amount of cash from their account at almost any time and in any city. Electronic ATMs are used for this purpose.

Using an ATM, the owner of a special card can also receive a loan. True, the amount of an “electronic loan” is very limited, and if a person wants to get a fairly large amount on credit, he will have to contact the office of a banking company. By the way, in Russia, here it is easier to get loans without proof of income than in Japanese banks, which are more strict regarding such operations.

An important link in the banking system are various types of cooperative credit institutions. There are 440 credit associations, 395 credit cooperatives, 47 labor credit cooperatives in Japan, the total number of their branches is 11,779, the total capital is 111.6 trillion. yen (11.2% of total banking capital), the volume of loans provided is 81.8 trillion. yen (11.0% of total lending).

An extensive network is represented by credit and financial institutions for agriculture and forestry. These include the Central Cooperative Bank for Agriculture and Forestry, 47 agricultural credit federations with 265 branches, 3473 agricultural cooperatives with more than 16 thousand branches, 35 associations of fishing credit cooperatives with 113 branches, 1665 fishing cooperatives with more than 3 thousand. branches. Credit institutions for agriculture and forestry account for 7% of all banking capital in Japan, and they account for 5% of all credit investments. In addition to commercial banks and various types of credit cooperatives, Japan has a developed postal savings network. Although the volume of loans provided through this network is small (0.6 trillion yen), in total it consists of more than 23 thousand branches.

The mobilization of savings of the population is carried out by banking institutions, the postal savings system and credit cooperation. Banks play the main role in savings (about 52% of total personal savings), followed by postal savings banks (30%) and credit cooperatives (18%). In banks, 58% of the balance on time deposits comes from personal savings.

Functions and instruments of the Bank of Japan

Bank of Japan How the central bank performs the following functions:

  • 1. issue of banknotes;
  • 2. implementation of monetary policy;
  • · change in the norm of required bank reserves,
  • · operations on financial markets,
  • regulation of the interest rate,
  • 3. implementation of mutual settlements between commercial banks;
  • 4. monitoring and verification of the financial position and condition of the management of financial institutions;
  • 5. conducting transactions with government securities;
  • 6. carrying out international activities;
  • 7. performing economic analysis and conducting theoretical research.

The Central Bank of Japan implements monetary policy, which includes:

a. changing the norm of required bank reserves,

b. transactions in financial markets,

c. regulation of the discount interest rate.

It should be noted that Bank of Japan is one of the most active participants in the international foreign exchange market, conducting its foreign exchange interventions.

Japanese banking legislation is based on the American model and received significant development only after World War II. The Japanese banking system of the modern period is one of the most developed and powerful not only in the Asia-Pacific region, but also on a global scale. Back in 1995, there were about 6,200 commercial financial and credit organizations operating in Japan. Japanese banks are increasingly among the leading banking institutions in the world and are becoming the center of giant financial and industrial groups investing in industry in Asia, the USA and Western Europe.

The main elements of the Japanese banking system are 11 large private banks (Mitsui, Mitsubishi, Sumitomo, Fuji, Daiichi Kante, Sanwa, etc.), called “city” banks, 64 private local banks operating on the scale of one prefecture, as well as the three strongest private banks long-term lending. Large businesses are mainly served by city banks. At the head of the system is the Bank of Japan, established in 1882 as the Central Bank.

The Central Bank was established in 1882, and in 1942 its status was changed - a policy council was created, which became the highest body for making management decisions. The permanent members of this council are: the bank manager, representatives of the Ministry of Finance and economic planning agencies for industrial banking. At the Bank of Japan (authorized capital 100 million yen), 55% of the authorized capital belongs to the government, and 45% to private companies. The Bank operates on the basis of a 1942 law that placed it under strict government control and gave the Minister of Finance the right to change the policy of the Bank of Japan.

In practice, state functions are also performed by one of the largest commercial banks in Japan (Bank of Tokyo), which maintains correspondent relations with 2 thousand banks in different countries. This bank is legally vested with the right to conduct foreign exchange transactions.

The main banks in Japan are commercial (national, regional and foreign), they perform over 300 types of operations for their clients. Japan is characterized by three categories of commercial banks:

The Japanese credit system includes 47 insurance companies that accumulate huge financial resources for investing in securities, and 220 stock companies. Unlike other countries in the world, Japanese laws clearly separate powers between banks and securities companies and do not allow them to interfere with each other's areas of specialization. During the entire post-war period, there was not a single case of bank insolvency or bankruptcy in Japan, which indicates proper government control in the field of banking control and supervision and support for weak banks.

Credit institutions in Japan are classified as follows:

  • 1) Central Bank (Bank of Japan);
  • 2) commercial banks;
  • 3) specialized commercial institutions.

Small savings of Japanese citizens are accumulated by postal savings banks. These cash desks provide individual customers with a wider range of services and store customer savings on more favorable terms than do giant city banks, local and other banks, so postal departments were able to accumulate large financial resources.

This is the seventh branch of the Japanese bank in Europe; In addition to Russia, Mitsui Sumitomo offices are located in the UK, Belgium, Germany, France, Spain and Ireland.

The Russian office now employs three people under the leadership of Takeshi Shirai, who previously worked in the representative offices of a Japanese bank in Malaysia and Indonesia. The Russian representative office of Mitsui Sumitomo is subordinate to the European department.

The task of the bank's department in Russia is still modest - collecting information about the Russian financial market. According to representatives of Mitsui Sumitomo, at this stage they are not considering the issue of creating a subsidiary company in the country. “We are going to provide support to Japanese trading and automotive companies in the Russian Federation, but for this we need to learn as much as possible about its market and the economic and political situation in the country,” the board of Mitsui Sumitomo in Japan explained to Gazeta.Ru. The bank is considering the possibility of investing in the Russian energy business.

Mitsui Sumitomo received permission for an office from the Central Bank of Russia more than a month ago, on July 15, 2005. “Russia demonstrates excellent potential due to its huge reserves of natural resources and high demand in the domestic market,” the company said in a statement.

Earlier it became known that two more leading Japanese banks intend to enter the Russian financial market in the foreseeable future. And if Mizuho Corporate Bank is only “considering this possibility,” then Tokyo-Mitsubishi Bank stated that it is ready in the spring of 2006 to create a banking organization in Russia that will deal with the entire range of banking operations.

All experts agree that Russia is now attractive to foreign banks. “There is a general interest of foreign banks in the Russian growing market. It’s hardly worth saying that Japanese banks are especially interested in it; this is now a global trend,” says Sergei Donskoy, a banking analyst at Troika Dialog Investment Company. “Maybe such interest is associated with such large Japanese investments as the construction of a Toyota plant near St. Petersburg, or maybe not.” In any case, according to the expert, the behavior of Japanese banks and their attitude towards Russia is now determined not so much by this factor as by the general interest of the largest financial and credit structures in developing markets.

“The Russian banking sector is now actively developing,” agrees Rostislav Musienko, analyst at BrokerCreditService Investment Company. – If earlier foreign banks had no interest in it, now it is gradually increasing, many transactions are taking place in the oil and gas field, they attract the attention of foreign banks. Nowadays it is still possible to enter the Russian banking market quite easily; competition with Western banks is not so serious here, and Russian banks can hardly be called competitors at all. But in a few years the situation may change, it will become more difficult, so foreign banks are rushing to enter the Russian market now.”

At the same time, according to experts, the arrival of large financial and credit structures in Russia will inevitably lead to increased competition among banks in the Russian market, and small banks will generally be doomed to either disappearance or be forcibly taken over by the “big guys”. “This may not be very good for Russian banks, but in general it is definitely a positive factor for the Russian economy,” sums up Sergei Donskoy.

According to analysts, the arrival of American, European and Japanese banks that adhere to higher corporate standards will improve the quality of services and make the banking business as a whole more transparent and efficient, since their Russian competitors, willy-nilly, will have to adopt new rules of the game.