All dressed up and no place to go

The Russian banking industry is moving in the right direction. Although Russian banks still have some way to go to provide service on a European level, they have become more civilized and are no longer engaged in the hard-sell duping of customers. Foreign bankers commend the progress being made by their Russian counterparts, particularly in providing competitive compensation. Many local bankers themselves feel that they have learned all they need to know about their business and are now eager to focus their attention on how they can help rebuild their country.
New banks, both foreign and domestic, are adding excitement to Russia's financial system. There is no commercial risk. There is no market risk. There is no performance risk. There is [...]