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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Ivan Filippov
The Change in the Strategy of Commercial Bank Management in Deteriorating Economic Environment
2016
The closest and most recognisable financial institution for a common person is a bank. The modern banking industry as a whole is often accused of being too volatile, too interdependent, inflexible and operating under faulty business models. The times demand that banks relearn strategy. Banks’ sources of revenue have come under pressure: Credit growth has slowed as consumers and businesses have deleveraged, net interest margins have been squeezed, and fee income has come under pressure due to increased competition and consumer watchdogs’ focus on unfair practices. The primary goal of this thesis is to examine if it is possible to analyse the Russian, European and USA banking sector through the use of publicly available data, determine which variables characterize the banking business models and identify the major business models characteristic to the banking industry. Additionally, the chosen variable values will be compared in the perspective of time, in order to test whether the results would be able provide an insight of possible changes undertaken by banks as a response to recent significant events and the state of economy. This thesis investigates 63 biggest banks from Russia, Europe and the United States of America between the years 2007 and 2014. A hierarchical clustering analysis is performed to generalize the banks’ business models with the use of pooled data. Additionally, the same clustering technique is applied to the data for every year in the sampled period.

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