VISA International BOD promotes SKB-Bank to Principal Member

9 June 2008 (07:45)

VISA International's Board of Directors decided to promote SKB-Bank to its Principal Member, which means the bank can now expand the range of bank card products and services it offers.

‘SKB-Bank’s approved Principal Member status means that the bank is a truly reliable and large-scale business,’ says SKB-Bank’s Deputy Chairman Oleg Demin.

SKB-Bank first joined the VISA system in December 2004 and has so far issued over 470,000 bank cards, most of which are VISA ones.

The Principal Member status allows the bank to handle direct operations with the international system and use VISA’s potential much more extensively for their card business development. As a matter of fact, there are only about fifty Russian banks with approved VISA International’s Principal Member status at the moment.

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