COMPETITIVE STRATEGIES OF TRANSNATIONAL BANKS IN THE GLOBAL ECONOMY

Abstract

The modern world is characterised by rapid internationalisation of monetary markets, active use of innovations and the latest technologies in the banking sector, dynamic processes of globalisation and transnationalisation that penetrate all areas of international relations, including social and economic life, financial and credit relations between countries, participation of countries in international associations, etc. This has resulted in greater and closer interaction and integration of national banking systems of countries around the world, which at the current stage of global economic development cannot function separately and independently of each other. In today's international banking sector, there are three main areas of interaction between the banking systems of countries: through central banks, through international settlements for trade and non-trade transactions, and through transnational banks. The article is aimed at studying the directions of competitive strategy of transnational banks in the global economy. It is determined that the main form of competitive struggle between banks is cross-border mergers and acquisitions, which are based on the process of capital concentration. It is also undeniable that mergers and acquisitions of multinational banks today are one of the main ways of development and cost reduction for multinational banks and significantly strengthen the international ties of financial capital of banks. The authors are convinced that in today's globalised and transnationalised world economy, an effective competitive strategy that enables small and medium-sized multinational banks to compete with large banking structures is coming to the fore. It is the ability of transnational banks to mobilise and effectively use their material assets that enables them to develop dynamically in the long term. The most well-known competitive strategies of transnational banks are analysed: the product-market matrix (A. I. Ansoff), the Boston Group matrix, the strategic model by M/ Porter, and the strategy of transformational focused universalisation.