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
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