DETERMINING THE COMPETITIVENESS OF BANKS IN THE WORLD MARKET: ESSENCE, GENESIS, FACTORS

Abstract

Article is devoted to the definition of essence of banks' competitiveness in global financial services market, followed by the disclosure of its Genesis and factors that form it. Attention is focused on such categories as banking competition, implementation of competition functions in the banking sector, forms and types of banking competition, and the competitiveness of a commercial Bank. Research was based on General research methods, including content analysis and retrospective analysis. Author's vision of Central definitions, such as «banking sector», «Bank competitiveness», etc., is based on the construction of structural and logical schemes, transition from General to particular. Systematization of forms and types of competition in banking sector is carried out depending on the degree of concentration of subjects, level of monopolization, and subject area. External and internal factors of competitiveness of banking system at international level are highlighted. It is determined that competitiveness of a banking product or service is their compliance with price and quality characteristics in comparison with offered competitors, or their superiority. It was shown, that these main characteristics affect Bank's competitive position, but do not determine it: it is possible to have competitive banking products and services, but due to international sectoral banking sanctions, not be able to implement them. Obtained conclusions can be used in development of a set of measures aimed at maintaining and ensuring the competitiveness of Russian banks in process of integrating their activities into realities of global financial market. Extended interpretation of subject competition in banking sector depending on segment of banking market is proposed. Essential content and significance of external and internal factors that determine the competitiveness of the banking system are revealed. In this case, internal factors are divided as internal in relation to the Bank as a whole, and in relation to individual banking products and services.