URSA Bank takes part in European Bank for Reconstruction and Development forum in Kazan

24 May 2007 (12:44)

URSA Bank held a press conference devoted to their experience with international investors and attracting foreign capital to Russia in Kazan on May 21, 2007. This was part of the European Bank for Reconstruction and Development international forum; some reports were presented by URSA Bank Chairman Igor Kim, Member of the Board Alexander Taranov, and First Deputy GD Vladislav Khokhlov.

‘The media have been paying a lot of attention to our dynamic financial growth and long-term cooperation with the European Bank for Reconstruction and Development. Our profits more than tripled last year, and the volume of loans we provided increased by 3.7 times. The profitability of our assets has remained at the level of about 3%. Our efforts on the debt capital market made it possible for us to attract over $850 million in 2006. Then, we went through with the 6th offering of ?400 million worth of Eurobonds on May 10, 2007,’ the bank’s press release says.

‘Transparency and being able to communicate well and keep in touch are just as important in order to attract foreign investors as audit procedures and clear business strategy,’ Mr. Kim said.

Reporters posed a number of questions on URSA Bank’s performance in Tatarstan.

‘We’ve already got a few point-of-sale terminals there and are planning to set up a subsidiary as well. The bank is offering the most popular services like car loans and mortgages. Our aim is to provide customers with a range of quality products, which is why the fierce competition in the area is not likely to slow down our development in Tatarstan,’ Mr. Kim observed.

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