COMPETITIVENESS OF BANKS IN THE MODERN CONDITIONS OF FINANCIAL MARKET DEVELOPMENT
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Дата
2019
Назва журналу
Номер ISSN
Назва тому
Видавець
WoS
Анотація
The article carries out the comparative analysis of the basic approaches to the choice of
competitive strategies of banks. The aim of the paper is to substantiation of theoretical and methodical
principles of banks' competitiveness in the current conditions of financial market development.
The factors that affect the level of competitiveness of banks are determined. The authors of the
article classifies them into factors that cause structural imbalances in the economy, factors of
macroeconomic and microeconomic functioning of banks.
Competitiveness of banks can not be considered without the competitiveness of their products and
services. Between them there is a close relationship, they determine the development of each other.
The authors of the article prove that banking competition differs from classical competition
between commodity producers. These differences are: the object of banking competition is not goods, but
the resources that the bank generates to carry out active operations; in banking market, banks can act as a
seller, not only the buyer; the implementation of banking services may be carried out within the bank
without the involvement of external sales channels; the situation of competition arises not only between
banking institutions, it is also connected with the activities of non-banking financial institutions; the
activities of banking institutions are strictly regulated by the National Bank of Ukraine.
Modern conditions of functioning of the banking market testify to the necessity of development
and introduction of strategic management of bank competitiveness, development of new methods of
formation and implementation of competitive advantages and strategies. Development strategies need to
be developed taking into account uncertainty, they should be as flexible as possible and provide for the
possibility of realizing banking risks.
Thus, it can be construed that the current state of development of banking business is accompanied
by crises occurring both in the economic and financial spheres of the country; therefore, ensuring the
competitiveness of banks must first of all be based on the development of effective, convincing messages
for investors, clients and employees. The main actions of banks that make it possible to present their
competitiveness should be this: ensuring financially sustainable development; the protection of the
existing own banking business is the elaboration of a contingency plan; work on the prospect.
Опис
Ключові слова
competitiveness, banks, strategy, banking competition, financial market, competitive advantages, banking business