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Yury Agapov"Person of the Year" 1993 in the category "Entrepreneurs and Financiers". Former President of Kredobank.
Country:
 Russia |
Content:
- Yuri Agapov: The Entrepreneur and Financier
- Establishment of Kredobank
- Recognition and Awards
- Views on Banking
- Government Involvement
- Bank Crisis of 1995
- Political Involvement
- Personal Life and Interests
Yuri Agapov: The Entrepreneur and Financier
Early Life and CareerYuri Agapov was born in the Soviet Union and received his education in economics. After graduating, he worked as an economist at the State Bank of the USSR and later as a senior research fellow at the Research Institute of Credit and Finance.
Establishment of Kredobank
In 1989, Agapov co-founded Kredobank, a small cooperative bank with a capital of 1.1 million rubles. Agapov became the chairman of the board and general director of the bank. Under his leadership, Kredobank became one of the largest commercial banks in Russia.
Recognition and Awards
In 1993, Agapov was awarded the title of "Man of the Year" in the category of "Entrepreneurs and Financiers" by the Russian Biographical Institute. He was also appointed to the Council of Experts on Banking Legislation at the Committee on Budget, Taxes, Banks, and Finance of the State Duma.
Views on Banking
Agapov believed that banks should play a social role in society by facilitating economic activity and providing information about the health of the financial system. He advocated for a three-tiered banking system and opposed the formation of unions within his own bank.
Government Involvement
Agapov was included in the commission responsible for developing the concept for the development of Russia's monetary and credit system in 1993. He also expressed support for state influence over commercial banks to ensure stability in the banking sector.
Bank Crisis of 1995
During the banking crisis of 1995, Agapov attributed the situation to the lack of long-term resources and the focus on risky credit portfolios by banks. He criticized the establishment of the government's market for state securities, known as GKOs-OFZs, which he believed had a destabilizing effect on the economy.
Political Involvement
Agapov declared that neither he nor his bank funded any political parties or individuals, stating that "a good politician cannot be bought, and a bad one is not worth spending money on." Despite his past support for the Supreme Soviet, he criticized extremist political views during the 1996 presidential elections.
Personal Life and Interests
Agapov is known for his interest in luxury interiors and automobiles. He is married and has authored scientific works on financial and credit activities. He is a philanthropist and supports the Russian Orthodox Church and the Moscow Philharmonic Orchestra.
