OREANDA-NEWS. December 01, 2010. The Perm Office of the Federal Antimonopoly Service (OFAS Russia) fined the “Savings Bank of Russia” OJSC, in the person of the “West-Urals Bank of the Savings Bank of Russia” OJSC, around 1 million Rubles for abusing market dominance, reported the press-centre of FAS Russia.

Earlier the Commission of the Perm OFAS Russia found that “Savings Bank of Russia” OJSC, in the person of the “West-Urals Bank of the Savings Bank of Russia” OJSC, violated Clause 7 Part 1 Article 10 of the Federal Law “On Protection of Competition”. The bank abused its dominant market position by fixing unreasonably high prices for the services of “Account opening” and “Account administration” (without electronic document flow) for legal entities, offered in the branches of the “West-Urals Bank of the Savings Bank of Russia” OJSC within the geographic boundaries of the Perm region.

When the case was investigated, the prices fixed by the Bank branches for the services of “Account opening” and “Account administration” varied from the average market prices for the similar services by 5.89 times and 2.48 times, or 489% and 148% accordingly, which is a considerable deviation under the Federal Law “On Protection of Competition” and the Tax Code of the Russian Federation.

Having investigated the case, Perm OFAS Russia issued a determination to the Bank to undertake appropriate measures to set reasonable rates for the services of “Account opening” and “Account administration” (without electronic document flow).

Under Article 14.31 of the Code of the Russian Federation on Administrative Violations, the antimonopoly body issued a determination to fine the “Savings Bank of Russia” OJSC, in the person of the “West-Urals Bank of the Savings Bank of Russia” OJSC, around 1 million Rubles.

According to the Head of Perm OFAS Russia, Dmitry Makhonin, the main objective of OFAS in this case is to reduce the rates for the services of the “Savings Bank of Russia” OJSC. Currently the decision on the antimonopoly case against the “Savings Bank of Russia” OJSC is being challenged at court of law. In view of the judicial practice in other regions, Perm OFAS Russia hopes that the ruling will be to the benefit of the antimonopoly body.

In the first six months 2010, FAS Russia and its regional offices initiated 1134 cases (Article 10 of No.135-FZ Federal Law “On Protection of Competition” of 26th July 2006). In particular, following its inspections FAS Russia issued 678 determinations to stop the antimonopoly violations.