FAS decided to analyze the work of banking organizations in relation to small and medium-sized businesses

The Federal Antimonopoly Service (FAS) has decided to analyze the increase in prices for cash management services for small businesses carried out by banking organizations. The service doesn’t deny the possibility of adjusting the legislation in order to resolve the issue.

At the end of 2019, employees of the Opora Rossii organization sent an appeal to the antimonopoly service with a request to conduct an audit of banks’ work based on statements from small business representatives. The organization assumes that there are signs of collusion in the work of banking organizations. At the moment, FAS analyzes the competition between banks in the service sector, as well as those related to transactions of legal entities and private entrepreneurs. The check is carried out on the basis of documents provided by the Central Bank and credit institutions.

The Antimonopoly Service contravenes the economic feasibility of the established tariffs. Due to the rise in their price, the cost of banking services increases significantly. Banks appeal to the law on combating money laundering.

The service sees the solution in adjusting banking legislation. At the moment, FAS representatives are studying the possibility of adding the issue to the work on the Competition Development Plan for 2021-2025.

Bank representatives deny possible collusion. The press service of VTB claims that when setting tariffs, it is guided by the state of the market, and by factors of the internal and external economy.