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Sotskaya Yuliya Igorevna, Odessa National Economic University, postgraduate of the department of banking E-mail: jsotskaya@gmail.com
Features of formation of development strategies in Ukrainian banks
Abstract: The article is devoted problems of formation of the bank’s strategy of Ukraine in modern conditions. On the basis of the principle of using of many levels characterized by five interacting, strategic levels of banking activity: the basic system elements, market combinations, the levels of the bank and alliances, as well as the level of development of society. It is proposed to strengthen the processes of re-engineering of business processes in the bank to achieve the objectives of the strategy.
Keywords: bank, strategy, innovation, development, competetive advantagies, re-engineering, effectiveness.
Urgency. The further development of Ukrainian banking sector is largely dependents on speed of overcoming crisis that engulfed him in connection with deepen economic and currency crises. With the continuous increase in number of insolvent banks it is necessary to develop and implement effective strategies for survival and recovery of banking system.
Fulfillment of tasks of these strategies suggests the neccessity of reform of the organizational structure as the main mechanism for allocation of resources and
management of the bank to achieve its goals. Modern conditions of activity of Ukrainian banks are characterized by: lack of permanent resources and creditworthy borrowers, uncertainties and risks, complexity, competition at several levels, which increases for a long time, and reduced more the effectiveness of the bank’s previous decisions and assessment opportunities of available information constantly change. Hence the willingness of banks to question constantly all the events in order to achieve a dynamic, proactive ability to adapt in order to
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create conditions for preservation of financial stability and long-term survival in the market, which indicates the relevance of the study proposed in this article.
The presentation of research results. The scientific works of many researchers: I. Ansoff, S. Kozmenko, Kotler, Yu. Maslenchenkov, R. Fathutdinov, etc. are dedicated to the issues of bank’s strategic development. As a rule, scientists in theory of strategic management separate three types of the bank’s strategy, which correspond to the levels of strategic decisions [1, 68]:
1. Corporate (portfolio) decisions relating to the bank’s activities in general, and related to the process ofmanagement ofa universal bank: allocation of resources between devisions (in many banks, the principle of transfer pricing is used); diversification ofbanking services and client base in order to reduce risk and obtain synergies; change the organizational structure ofthe bank; development of a common strategic of devisions’ orientation.
2. Competitive solutions are spread on business devisions of the bank (branch offices, offices, separate structures of the parent bank — dealing, processing center, etc.) to ensure the implementation ofbusiness plans, tariffpolicies, client segmentation of the market, advertising policy.
3. Functional decisions are made in the interests of departments and services of the bank: rational allocation of resources division (department, direction), search for effective behavior within the specified function.
It should be noted that achievement of objectives, strategies outlined above, are possible only in the presence of a competitive advantage. Modern economic relations generate, as a rule, the nature of a multi-stage competition for advantages in banking sector of economy. In the economic literature several competitive levels — society as a whole, banking system, banking alliances, individual bank, basic system elements (key competencies, values and so on.) are identified.
By analogy with evolution theory, the in-house changes in banking business during formation of competitive advantage, in our opinion, may be perceived as a continuous process of variation, selection and retention of various features. The main ones are:
- innovations: Improving the procedures of cash management using new information technologies; improving procedures of financial intermediation, aimed at reducing of operating costs and optimizing asset and liability management (deposit certificates, “NOW” accounts, money market deposit accounts, etc.);
improving the traditional segments of the capital market (instruments with “floating” interest rate swaps, bonds with deep discount, serial bonds and others), as well as tools that have features of both equity and loan funds (loan participation, participation notes, investment certificates and etc.); access to new areas of capital market — market of commercial paper (short-term liabilities), financial futures, financial options, unlisted securities market;
- a strategic choice as a result of competition between various concepts ofbanking success in the financial market;
- retaining phase — the bank’s efforts to preserve the positive results of its activities [2, 23].
In this approach, in close analogy with creation ofspe-cies in biology, selection ofthe branches leading to the formation of a new type of organization are considered (for example, a currently actively developing system of accompanying business around the banks) are retained elements of knowledge that ensure successful reproduction of new organizational forms. Moreover, according to the principle of many levels, the bank, being a system, evolves simultaneously on several external and internal levels, whose connection results in the fact that the order of the same level are often reflected on the activity on other levels. Their inclusion is unavoidable, if managers are going to work successfully under dynamics of environment and increasing complexity of the bank. The principle of many levels also indicates that each of them are, albeit in different forms, both basic rules of evolution — the desire to preserve the identity and adaptation to the environment. In the light of this principle, five interacting, strategic levels of activity are important for the bank:
1) The level ofbasic system elements that are always keen to permanence. They determine what information the Bank receives and how it handles, what objectives put managers from different departments of the bank and what they do to achieve them. For example, a bank with a classic conservative orientation will refuse to issue more loans to large and well-known company with no formal pledge in the right size; on the contrary, the bank, which specializes in creating complex individual schemes to customers — most will select a similar scheme for the indirect loan guarantee to the entity and will issue this loan. The main factors are the changing values of individual and collective training, provision of key positions to people who share different values, the use of certain incentive schemes. As an example, there is a purchase of the bank by another group, and the alignment of its top executives engaged in other policies (such
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as the recent purchase of the shareholders of Alfa-Bank (Ukraine) 99.77 % share in the Ukrainian PJSC “Bank of Cyprus”, etc.) [3].
2) The level of market combinations: the foreground middle management functions of the bank and its interaction with top management. In this case, although the strategic initiative is based mainly on the lower and middle management level — top management may have a decisive influence on their activity, taking structural solutions that reflect corporate objectives and thereby manipulating the environment in which managers at lower levels produce decisions and take appropriate action.
3) The level of the bank. In our opinion, it is necessary to strike a balance between the desire to preserve the identity and adaptation. Of particular importance is also the question of whether the Bank to adhere to one of the selected targets or deliberately take the path of further development (i. e. again the dilemma of “identity or adaptation”). In this case, managers can:
a) intentionally to initiate processes of variation and selection, to act as a pioneer and take advantage of this benefit;
b) choose the way of preservation of identity, preparing resources for adaptation in the future. For example, NFC-card now receives more development (contactless cards — they can be used for payment at the box office by mobile device). NFC technology must support not only smart, but also billing POS-terminals in trade network. In the world mobile technologies are increasingly used, including for purchases. The launch of mobile payments in Ukraine — it is an investment in the future, so most of major banks is currently faced with a dilemma: to invest in the development of non-competitive yet (with certain payment systems) NFC-cards, and in the future to become the market leader, or refuse from this project and to invest in infrastructure of less profitable, but common payment systems [3].
4) The level of alliances. It should be noted that at the beginning of 2014 in Ukraine 16 consolidated statements of banking groups were registered and published. Details of the analysis indicate that the number of foreign and domestic banking groups in Ukraine coincide. The share of total assets subject to regulatory adjustments of national groups is 1.8 times more of foreign ones. A key role in the aggregate assets of national teams, playing with the controller group — the largest bank in Ukraine “Privatbank”, the share of assets of the group is more than 37 % of total assets of all other banking groups. This group also contains several sub-bank: AS “Privat Bank” (Latvia), CJSC ICB “Moscomprivat-bank”, as well as non-bank institutions, which report directly to the parent bank — supervisor of the banking group. At the same time, we believe that in certain situations you can follow level alliances, economic and social performance criteria, if you search more for cooperative rather than competitive solutions.
5) The level of development of society. In our opinion, this fruitful concept of “search of habitat,” the essence of which is that capital often prefers rather move because of deteriorating of social conditions in other places or public areas that are more suited to its identity than to adapt to changing surroundings.
Conclusions. The analysis of features of banks’ activities in Ukraine in modern conditions leads to the conclusion that it is necessary to develop self-reorganization processes — adaptations ofbanks to changing market requirements, which involves extensive use of advanced information and communication technologies to achieve new business objectives of banks and contributes to adaptation to changing banks environmental conditions. And to achieve these goals it is necessary to implement strategies that would allow, on the one hand, the bank’s stability and relative independence from market fluctuations, and on the other hand — a sufficient level of profitability to survive in the crisis.
References:
1. Fathutdinov R. A. Strategic management: Manual./R. A. Fathutdinov; Academy of National Economy under the Government of the Russian Federation. - M., 2001.
2. Maslenchenkov Y. S., Dubankov А. P. Bank economy. Development of financial management of the bank. - М.: Publishing Group «BDC-press», 2002. - 168 p.
3. The official website of the NBU.//[Electronic resource]. - Available from: http://bank.gov.ua/control/uk/ publish/category?cat_id=84921
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