Ways to increase bank competitiveness in the context of EU integration

Koverza, Viktorija and Коверза, Вікторія Семенівна and Коверза, Виктория Семеновна and Nieizviestna, Оlena and Нєізвєстна, Олена Володимирівна and Неизвестная, Елена Владимировна and Shendryhorenko, Maryna and Шендригоренко, Марина Трохимівна and Шендригоренко, Марина Трофимовна and Ivanova, Natalia and Іванова, Наталя Сергіївна and Иванова, Наталья Сергеевна (2020) Ways to increase bank competitiveness in the context of EU integration. Електронне наукове фахове видання «Ефективна економіка» (11).

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Abstract

To increase the competitiveness of banks in the context of integration into the European Union, it is especially important to recommend establishing directions for the development of integration processes in the banking sector, as well as understanding the basic principles of European integration policy and competitive advantages of domestic commercial banks. The article describes the main priority areas of development of the banking system of Ukraine to the European economic space, namely: ensuring economic sovereignty; harmonization of Ukraine's interests; transparency of foreign capital penetration mechanisms; continuity of integration processes. The basic principles of European integration policy of the banking sector of Ukraine and directions of competitive advantages of domestic commercial banks are established where on the basis of interaction of banks, which generates new system properties and system risks, approaches to their regulation and improvement of the banking system by the state are formed. Attention is paid to its interaction with the external environment. It is determined that the process of innovation management of most Ukrainian banks does not meet the international level and national needs for the development of the banking system. One of the influential factors on the competitive advantages of the banking sector of Ukraine is problem loans. On this basis, the negative consequences of this phenomenon on the development of the banking sector and social tension in society are considered. Based on the criteria of systemic importance of banks considered by groups, measures of effective prevention of systemic liquidity risk, overcoming its consequences and recommendations for establishing directions for the development of integration processes are provided. Further research is the study of the consequences of the introduction in Ukraine of norms and rules of banking in the EU, which are based on the rules of the Basel Committee on Banking Supervision and search for ways to improve banking efficiency and competitiveness of Ukraine's banking system in the context of European integration intentions.

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