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ANALYSIS OF PRIORITY DIRECTIONS OF DEVELOPMENT OF THE MARKET OF BANKING PRODUCTS AND SERVICES ON THE EXAMPLE OF BAI TUSHUM
BANK
A.D. Satybaev, Doctor of Physical and Mathematical Sciences, Professor N.K. Mendieva, Lecturer
Humanities and Technology College of Osh university of technology
(Kyrgyzstan, Osh)
DOI:10.24412/2411-0450-2024-3-2-97-100
Abstract. The banking system, being an integral part of the economic system of any country, occupies a strategic position in the economy, which is determined by its goals, objectives, functions, as well as the impact on other systems. Any failure in the functioning of the banking system will affect the interests of all business entities. The modern banking system of the Kyrgyz Republic is developing under the influence of both positive external economic factors and internal socio-economic processes that create favorable conditions for the development of lending to the real sector of the economy.
Keywords: bank, economics, finance, support, crisis, money.
The steady growth of the main performance indicators of Bai Tushum Bank and the preservation of its rating ratings are the result of compliance with the implemented development strategy by external and internal factors. The Bank needs to continue its active development from a single product to a full-fledged universal bank with an emphasis on the development of a full-fledged retail business: credit products, deposits, debit cards, the development of its own branch network and a network of bank offices. The focus on qualitative improvement of customer service standards and satisfaction of consumer needs is the basis for further successful development and retention of leading positions in the market of banking products and services.
In market conditions, commercial banks should pay serious attention to attracting resources and for this:
- develop their own deposit policy;
- pay special attention to term deposits in
the process of implementing the deposit policy;
- diversify the types of deposits;
- Expand banking services to attract potential depositors;
- to pursue an effective interest rate policy that does not reduce the profitability of the bank and provides a certain attractiveness for depositors.
The bank's strategic deposit management tools include measures aimed at strengthening its position in the deposit market, which takes into account the full range of factors that create an external environment for banking activities. Tactical tools for managing deposit operations in the bank include measures to improve the internal organization of deposit work: improving the rules and procedure for implementing deposit agreements, improving the work of the bank's staff engaged in passive operations, searching for new forms of working with clients, reducing the likelihood of risk and irrational decisions, and the like.
In the strategic plan of the bank's deposit management, it relies on the marketing of the deposit market, regulation of demand and supply of deposit services. In the tactical plan for managing the bank's deposit operations, it provides, first of all, for establishing clear monitoring of the quantity and quality of its deposit portfolio.
A specific feature of deposit operations is the active role of the bank's client, who independently determines the amount of the deposit - that is, part of his income, which he directs to saving. Measures to influence the economic behavior of potential depositors should take a significant place in the process of managing deposit operations of a commercial bank. The bank's honesty and decency towards customers should be the norm in any
situation, even the most unfavorable for banking activities.
The rise in the price of deposits also leads to an increase in the price of the bank's credit resources. Therefore, the bank's aspirations to maximize the satisfaction of depositors' needs should be limited to future opportunities for profitable placement of attracted resources at a higher percentage compared to deposits. To implement this task, commercial banks set the minimum amount of a term deposit, the minimum period for which funds are deposited, the annual interest rate, the frequency of interest payments (monthly, quarterly, at the end of the term) and the like.
Effective management of deposit operations creates conditions for optimal resource regulation in a commercial bank. Skillful maneuvering of resources is an important indicator of the professionalism of the banking staff.
Passive operations of a commercial bank are organically linked to active operations. Banking management is inseparable from ensuring effective interconnections of passive and active operations of the bank. Attracting funds for deposits to the bank loses any meaning if there are no reliable channels for their next profitable placement. The commercial bank is responsible to the depositor for the obligations that arise from the deposit agreement, its own funds, property and all appropriate assets. A reliable and effective deposit guarantee system creates conditions for protecting the interests of depositors in the event of bank insolvency or bankruptcy, reducing the risk of a crisis in the banking system as a result of loss of liquidity through mass withdrawal of deposits, improving the efficiency of managing the monetary sector of the economy as a result of an increase in deposits. When raising funds, the right to choose remains with the client, and the bank is often forced to compete fiercely for a depositor, who is quite easy to lose. The limited resources associated with the development of banking competition leads to a close connection to certain customers. If the circle of these clients is narrow, then the bank's dependence on them is very high. In terms of passive transactions, the choice of a bank is usually limited to a certain group of clients, to which
it is much more strongly tied than to borrowers.
As a result, in the current situation, in order to solve the problem of forming the bank's resource base, it is necessary to strengthen work on expanding the circle of depositors. Therefore, the bank needs a competent deposit policy, which is based on maintaining the necessary level of diversification, ensuring the possibility of attracting monetary resources from other sources and maintaining a balance with assets in terms of terms, volumes and interest rates.
In order to expand their credit potential, banks need to step up their efforts to attract new customers for deposit and loan products. This can be achieved in several ways, including by expanding the list of products. So, it can be assumed that targeted deposits and loan offers will be beneficial for customers, the payment of which will be timed to coincide with the holiday period, birthdays or other holidays. Their terms are shorter than traditional ones, and the percentage is higher. An example of a targeted contribution can be the so-called "New Year", "Christmas" or "anniversary" deposits and loans.
To carry out effective deposit management, it is necessary to determine the optimal amount of the term deposit retention period for both individuals and legal entities. At the same time, Bai Tushum Bank should pay special attention to the fact that the terms of deposits should be linked to the terms of the turnover of loans, for the issuance of which term deposits can be directed.
In conclusion, we can say that each bank develops its deposit policy, determining the types of deposits, their terms and interest on them, the conditions for conducting deposit operations, while relying on the specifics of its activities and taking into account the factor of competition from other banks and inflationary processes occurring in the economy.
Effective liability management involves the implementation of a sound deposit policy. The specificity of this field of activity is that in terms of passive operations, the choice of a bank is usually limited to a certain group of clients, to which it is much more strongly tied than to borrowers. When issuing a loan, the bank, not the client, decides on the transfer of
money to the borrower, that is, it has a significant opportunity to maneuver monetary resources. When raising funds, the right to choose remains with the client, and the bank is often forced to compete fiercely for a depositor, who is quite easy to lose. Of course, good borrowers are also of great value and forming a wide range of them is one of the most important tasks of the bank. But the primary thing is still the attraction, not the placement of resources.
Thus, I consider it possible to propose the following directions for improving the passive operations of Bai Tushum Bank:
Active PR promotion of favorable conditions for deposits of the population, since the bank plans to change the brand in the costs of implementing the development strategy, a relatively small amount for including information about deposits in brochures, brochures and flyers will slightly increase costs the bank.
Bai Tushum Bank needs to strengthen its work with corporate clients. To improve the situation, it is necessary to review the list of services provided to organizations - for example, in addition to issuing salary cards to employees of the serviced organization, they should immediately offer to open deposits for employees, especially since the necessary information is provided when opening salary accounts, i.e. the process of opening an account is minimally simple and does not require additional costs as on the part of Bai Tushum Bank, so it is on the part of the company.
Creation of a product for financing startups on a competitive basis - creation of a product for financing projects with development potential, equity participation in projects, which in the future may have a significant impact on the bank's investment portfolio. Similarly, such a project would stimulate social and economic activity among the population with intellectual potential, and possibly cause a boom in entrepreneurial activity.
For the client organization, this offer is beneficial and possible because:
- the company gets the opportunity to provide additional social bonuses to employees by transferring a certain amount from bonuses, rewards, "13th salary", etc. to employees'
deposit accounts, without creating its own bonus fund;
- the company's employees have the opportunity to receive additional pension surcharges, provided that they invest funds in a similar way to the cumulative part of insurance pension contributions. To do this, it is necessary to provide for the possibility of placing these funds (at the request of employees) on the pension deposit of the Bai Tushum Urmat+ bank; Thus, the main priority directions for the development of the bank as a whole are:
- increasing the deposit portfolio;
- increasing the share of customers served through remote channels (Internet banking, mobile banking, payment cards);
- qualitative improvement of customer service standards and satisfaction of consumer requirements.
Optimization of interest rates on deposit and loan products.
Creating a startup financing product on a competitive basis
Creating a system of individual customer service - CRM (Customer Relationship Management - customer loyalty management system), which includes a full range of banking products and services that meet international standards, is currently one of the main tasks facing any modern bank wishing to remain competitive in the market. This approach involves offering the client specially designed individual schemes and technologies that ensure the development and optimization of the client's business, insurance of its risks; securing personal managers with the necessary level of authority for the client, providing customers with technological and information capabilities of the bank, a wide range of consulting services; conducting a flexible tariff policy of individual service. Client seminars and conferences, targeted promotions aimed at a specific group of clients should be put into practice, and a targeted advertising system should be developed.
The introduction of popular international payment cards into circulation, in order to more actively attract customers who most often choose VISA and MasterCard cards.
The set goals and objectives require the adoption of a marketing policy of the bank that meets the preferences and needs of target
groups of existing and potential customers. keting research, develop and offer a full range The active targeted sale of products and ser- of banking products and services. Each of the vices provides for certain priorities in product proposed directions assumes high quality of policy, as well as optimization of forms and products and services, their constant monitor-methods of sales. To do this, the bank should ing, improving the level of service by opti-strive to establish long-term partnerships. To mizing banking procedures and increasing the this end, the bank must predict the develop- service culture, systematic development of ment of customer needs, the emergence of new banking products and services to maxim-new areas of banking business, conduct mar- ize customer satisfaction.
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АНАЛИЗ ПРИОРИТЕТНЫХ НАПРАВЛЕНИЙ РАЗВИТИЯ РЫНКА БАНКОВСКИХ ПРОДУКТОВ И УСЛУГ НА ПРИМЕРЕ БАНКА «БАЙ ТУШУМ»
А.Д. Сатыбаев, д-р физ.-мат. наук, профессор Н.К. Мендиева, преподователь
Гуманитарно-технологический колледж Ошского технологического университета (Кыргызстан, г. Ош)
Аннотация. Банковская система, являясь неотъемлемой частью экономической системы любой страны, занимает стратегическое положение в экономике, что определяется ее целями, задачами, функциями, а также воздействием на другие системы. Любой сбой в функционировании банковской системы затронет интересы всех хозяйствующих субъектов. Современная банковская система Кыргызской Республики развивается под воздействием как позитивных внешнеэкономических факторов, так и внутренних социально-экономических процессов, которые создают благоприятные условия для развития кредитования реального сектора экономики.
Ключевые слова: банк, экономика, финансы, поддержка, кризис, деньги
