Bank Severnaya Kazna never had credit cards, Alfa Bank says

‘Bank Severnaya Kazna does not have and never had any credit cards,’ Alfa Bank’s Chairman Rushan Khvesyuk announced in the course of an online press conference today.

‘What the bank did have was the bank cards with an overdraft limit; these were no credit cards, in fact. Now, however, any customer can get Alfa Bank’s full-fledged credit cards at the bank,’ he added.

Nevertheless, the Chairman’s statements contradict Bank Severnaya Kazna’s official data. The latter announced the launch of its credit card lending program as early as 2004. The classic credit cards and credit cards with a grace period were introduced by the bank in 2006 and 2007, respectively. Both of these products got a detailed description at the bank’s official website.

It might be that Rushan Khvesyuk just had no time to look into Bank Severnaya Kazna’s product range after the latter had been acquired by Alfa-Bank at the end of November 2008. It is also possible that he does not think the bank’s current offer is a real credit card.


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