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Banks of Primorye Conceals from Demanders Real Payments for Credits
Half banks working in Vladivostok do not meet the criteria important for end-consumers
VLADIVOSTOK. VOSTOK-MEDIA. Half banks working in Vladivostok do not meet the criteria important for end-consumers, says Alexey Ivashkin, President of NGP “Association of Primorye Brokers”.
“For several years in Primorye financial and consulting service sector is rapidly developing. For further efficient development of this sector awareness of the population is necessary” – says Alexey Ivashkin.
According to the data from General Directorate of Central Bank growth dynamics of consumer crediting in Primorye last year was 69%, total sum of consumer credits on January, 1, 2007, comprised 28 billion roubles.
To the expert’s opinion, in order to use all spectrum of up-to-date financial resources Primorye needs to have full awareness. Lack of financial awareness may prevent from developing many financial tools and segments of financial market.” Rising of natural person’s overdue debt repayments means that not all loaners were aware about full cost of credit. It comes obvious in the sector of insurance and individual pension plan”. For instance, majority of future retired people chose a governmental organization to manage their funds. It means people do not know about full range of financial opportunities that nowadays market provides with”, - clarified Alexey Ivashkin.
Social poll showed that people, taking out loans, have no sufficient information about conditions under which the loan is taken. Many believe in what is said on the advertisements spread by banks. But not all the time the information about credit cost written there is reliable. It is necessary to launch a campaign in league with the local administration to extirpate financial illiteracy”.
In November 2006 Council of State held a meeting discussing development of the national bank system. In followup of the meeting President entrusted the Cabinet and Central Bank to work out measures to rise up financial literacy and awareness of population about bank services.
Basing on the knowledge of problems in this sphere local financial community has, NGP “Association of Primorye Brokers” worked out a set of measures how to enrich financial knowledge. A part of this project is being implemented in the framework of grant given by the U.S. government “Our Rights”. This program involves all society groups from schoolchildren and students to middle aged people and pensioners but only in frames of Vladivostok. Social polls and method of “secret consumer” are used. This work helps reveal the most troublesome aspects of consumer service in credit establishments of Primorye”, - says Alexey Ivashkin.