Problems of Increasing Public Confidence in Russian Banks in the Sociological Dimension (Part 1)
Research Article
How to Cite
Vittenderg E.Y. 2020. Problems of Increasing Public Confidence in Russian Banks in the Sociological Dimension (Part 1) — Sociologicheskaja nauka i social’naja praktika. Vol. 8. No. 2. P. 69-85. DOI: https://doi.org/10.19181/snsp.2020.8.2.7304
Abstract
The empirical basis for writing this article is based on three sociological researches of Institute of Sociology of FCTAS RAS made by order and with financial support from the Central Bank of the Russian Federation (Bank of Russia), National Bureau of credit histories (NBCH) and the Russian Bank of support of small and medium enterprises (SME Bank) in 2013, 2015 and 2019, that is, before the crisis, in the midst of crisis and in the early post-crisis period. All three studies were initiated by the Association of Russian banks (ARB). Considerable attention is paid to the analysis of assessments of the Central Bank’s monetary policy in public opinion at various historical stages and its impact on the level of public confidence in the banking system as a whole. The article analyzes objective and subjective reasons that negatively affect the level of public confidence in banks. Among them, the problems of reducing the living standards of the population, mass revocation of licenses from commercial banks, falling investment attractiveness of storing funds by individuals in banks, etc. are analyzed. In conclusion, the first part of the article provides recommendations based on the results of the study to restore and strengthen public confidence in banks through a more responsible and flexible monetary policy, increase the transparency of the banking community and expand information about its activities, promote financial literacy, systematic sociological monitoring of the population’s attitude to banks and scientific and practical understanding of its results.
Keywords:
: mega-regulator, trust in banks, investment preferences, Internet banking, financial education, quality of banking services
References
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Hurley R., Gong X., Waqar A. (2014а). A framework for understanding and restoring trust in universal banks. Companion to Financial Services Marketing. Ed. by T. Harrison, H. Estelami. New York: Routledge, Ch. 30. DOI: https://doi.org/10.4324/9780203517390
Hurley R., Gong X., Waqar A. (2014б). Understanding the loss of trust in large banks. International Journal of Bank Marketing. Vol. 32. № 5. P. 348–366. DOI: http://dx.doi.org/10.1108/IJBM-01-2014-0003
Seal W. B. (1998). Relationship banking and the management of organizational trust. International Journal of Bank Marketing. Vol. 16. № 3. P. 102–107.
Tyler K., Patton M., Marco M., Meyer D., Stanley E. (2007). The role of trust in financial services business relationships. Journal of Services Marketing. Vol. 21. № 5. P. 334–344.
Dmitriev I. V. (2014). Napravleniya povysheniya doveriya v bankovskom sektore i razvitiya sistemy strahovaniya bankovskih vkladov grazhdan v Rossii. [Directions for increasing confidence in the banking sector and developing the system of insurance of Bank deposits of citizens in Russia]. Vestnik MGIMO-Universiteta. № 1 (34). P. 158–163. (In Russ.).
Doverie i nedoverie v usloviyah razvitiya grazhdanskogo obschestva. (2013). Ed. by A. B. Kupreichenko, I. V. Mersiyanova. [Trust and distrust in the context of civil society development]. M.: Izdatel’skii dom NIU VSHE publ. 564 p. (In Russ.).
Gosteva E., Trushina N. (2013). Bankovskaya zachistka: ekspertnaya otsenka. [Bank cleanup: expert assessment]. URL: https://bankir.ru/publikacii/20131218/bankovskaya-zachistka-ekspertnayaotsenka-10004389/ (data obrascheniya: 09.01. 2020). (In Russ.).
Ibragimova D. (2016). Doverie k bankam snizhaetsya, no chastnye vklady rastut. [Confidence in banks is declining, but private deposits are growing]. URL: https://iq.hse.ru/news/186326424.html (data obrascheniya: 01.03. 2020). (In Russ.).
Kucherenko V. (2015). Banki priobretayut doverie, no teryayut klientov. [Banks gain trust, but lose customers]. URL: https://www.newsvl.ru/economics/2015/08/18/138155/ (data obrascheniya: 03.01.2020). (In Russ.).
Litvinov D. A. (2000). Formirovanie doveriya naseleniya k rossiiskoi bankovskoi sisteme. [Building public confidence in the Russian banking system]. M.: RAGS publ. 140 p. (In Russ.).
Nabiullina E. (2014). Sredi osnovnyh zadach Banka Rossii – obespechenie operativnosti i effektivnosti bankovskogo nadzora. [Among the main tasks of the Bank of Russia is to ensure the efficiency and effectiveness of banking supervision]. Finansovaya bezopasnost’. № 4. P. 6–10. (In Russ.).
Otchet o razvitii bankovskogo sektora i bankovskogo nadzora v 2010 godu. (2011). [Report on the development of the banking sector and banking supervision in 2010]. M.: TSB RF publ. 120 s. URL: https://cbr.ru/Collection/Collection/File/24211/bsr_2010.pdf (data obrascheniya: 02.01. 2020). (In Russ.).
Rossiiskie banki v glazah obschestvennogo mneniya: opyt sotsiologicheskogo analiza. Otchet po itogam obscherossiiskogo sotsiologicheskogo issledovaniya. [Russian banks in the eyes of public opinion: experience of sociological analysis. Report on the results of the all-Russian sociological research]. (2013). M.: IS RAN publ. 173 p. (In Russ.).
Tosunyan G. (2014). Vopros kolichestva bankov opredelyaetsya sprosom na bankovskie uslugi. [The question of the number of banks is determined by the demand for banking services]. NBJ. Natsional’nyi bankovskii zhurnal. URL: http://nbj.ru/publs/ot-redaktsii/2014/01/24/g-tosunjanvopros-kolichestva-bankov-opredeljaetsja-sprosom-na-bankovskie-uslugi/index.html (data obrascheniya: 01.03. 2020). (In Russ.).
Federal’nyi zakon ot 27 dekabrya 2018 g. N 537-FZ «O vnesenii izmenenii v Federal’nyi zakon “O razvitii malogo i srednego predprinimatel’stva v Rossiiskoi Federatsii” i stat’yu 12 Federal’nogo zakona «O mikrofinansovoi deyatel’nosti i mikrofinansovyh organizatsiyah”» [Federal law of December 27, 2018 N 537-FZ “on amendments to the Federal law” on the development of small and mediumsized businesses in the Russian Federation” and article 12 of the Federal law “on microfinance activities and microfinance organizations”»]. URL: https://rg.ru/2018/12/29/biznes-dok.html (data obrascheniya: 04.01.2020). (In Russ.).
Dirks K. T., Ferrin D. L. (2001). The role of trust in organizational settings. Organization Science. Vol. 12. № 4. P. 450–467. DOI: http://dx.doi.org/10.1287/orsc.12.4.450.10640
Gillespie N., Hurley R. (2013). Trust and the global financial crisis. Handbook of Advances in Trust Research. Ed. by R. Bachmann, A. Zaheer. Cheltenham: Edward Elgar. P. 177–203.
Harrison T. (2003). Why trust is important in customer relationships and how to achieve it. Journal of Financial Services Marketing W.B. Vol. 7. № 3. P. 206–209.
Hurley R., Gong X., Waqar A. (2014а). A framework for understanding and restoring trust in universal banks. Companion to Financial Services Marketing. Ed. by T. Harrison, H. Estelami. New York: Routledge, Ch. 30. DOI: https://doi.org/10.4324/9780203517390
Hurley R., Gong X., Waqar A. (2014б). Understanding the loss of trust in large banks. International Journal of Bank Marketing. Vol. 32. № 5. P. 348–366. DOI: http://dx.doi.org/10.1108/IJBM-01-2014-0003
Seal W. B. (1998). Relationship banking and the management of organizational trust. International Journal of Bank Marketing. Vol. 16. № 3. P. 102–107.
Tyler K., Patton M., Marco M., Meyer D., Stanley E. (2007). The role of trust in financial services business relationships. Journal of Services Marketing. Vol. 21. № 5. P. 334–344.
Article
Received: 13.01.2020
Accepted: 30.06.2020
Citation Formats
Other cite formats:
Harvard
Vittenderg, E. Y. (2020) ’Problems of Increasing Public Confidence in Russian Banks in the Sociological Dimension (Part 1)’, Sociologicheskaja nauka i social’naja praktika, 8(2), pp. 69-85. doi: https://doi.org/10.19181/snsp.2020.8.2.7304.
Section
ECONOMIC SOCIOLOGY
Publisher: Federal Center of Theoretical and Applied Sociology of the Russian Academy of Sciences (FCTAS RAS)