Not many foreign banks interested in opening branches in Russia owing to ban on this type of presence - Russian Central Bank

MOSCOW. April 3 (Interfax) - Not many foreign banks are interested in opening branches in Russia owing to the existing ban on this type of presence, Central Bank of Russia (CBR) First Deputy Governor Vladimir Chistyukhin said in a statement.

"No, not many [foreign banks are interested in opening branches]," Chistyukhin told reporters in the State Duma.

"Foreign regulators more often say that it would be nice for us to pass the appropriate legislation and create an appropriate legal environment, because their banks turn to them with such questions. They do not come to us much today precisely because the opening of branches is prohibited here today," Chistyukhin noted.

Chistyukhin stressed that banks from countries that are Russia's foreign trade partners are interested in opening branches.

"In general, these are all our foreign trade partners, I mean countries with whom we have maintained good foreign economic relations. They say that they would be interested in seeing the option of establishing a branch here as an opportunity rather than a subsidiary," Chistyukhin added.