Kostin proposed to distribute economic sectors between banks – Kommersant

The head of VTB, Andrei Kostin, proposed that the government choose priority sectors of the economy and national projects for the country to assign to the banks that will finance them. His idea was supported by Alfa-Bank Chief Executive Officer Vladimir Verkhoshinsky.

Mr. Kostin announced the initiative during the plenary session of the Finopolis forum. He stated that it is possible to “identify some real priorities from the state,” and artificial intelligence should be among them. He believes that “the state’s focus should be on both regulation and support measures” for such projects. At the same time, giving money for them “just like that” is not the best strategy, and placing government orders is “a good deed,” the head of VTB is convinced.

Andrei Kostin expressed confidence that if the state “placed an order for ten years for low-orbit satellites,” then they, together with the head of Sberbank German Gref, “would have fully financed it.” The head of VTB proposes to assign “some large asset” to each large bank. “I have shipbuilding, Herman has artificial intelligence. It’s like this in Belarus, where a collective farm is a must if you have a bank. But here the most important direction is to choose, and let them drag,” he suggested (quote from Forbes).

The chief executive officer of Alfa Bank, Vladimir Verkhoshinsky, approved the idea, justifying it by the fact that in South Korea the state distributed specific tasks to conglomerates, which, in his opinion, is the main secret of its economic success. He also proposed leaving part of the dividends to Sberbank for the development of artificial intelligence. “I think that those Sber investors who will lose a little on Sber’s dividends will earn more from the growth of its capitalization as a digital company,” says Mr. Verkhoshinsky.

German Gref, who was present at the meeting, did not comment on the initiatives.

How Kommersant reported, Sberbank is showing interest in solutions in the field of semiconductor production. A group of bank engineers is developing software that could potentially speed up the production of microelectronics at semiconductor factories through the use of artificial intelligence technologies. At the end of the third quarter of 2023, Sberbank’s net interest margin exceeded 6% for the first time in several years.

Details – in the material “Kommersant” “Sberbank strengthened by ruble”.

Laura Keffer