In compliance with their previous commitments, the International Finance Corporation (part of the World Bank) offered Uralvneshtorgbank $5m (or 131,650,000 RUR) until the year 2010. This loan is part of the IFC small and medium-scale business support program. ‘This small and medium-scale business support by the international investors is crucial to the development of these segments of Russian economy. One more loan appears to be the logical continuation of the bank’s developing relations with the international financial bodies and proves once again that Uralvneshtorgbank is a high-grade,

SibAcademBank hit 11th in Top 30 Most Attractively Advertised Russian Banks rating compiled within the period of December 1, 2006 to December 15, 2006. The rating was prepared by Medialogia, the special mass media analysis and monitoring system, with the so-called most favoured informational status (developed by the Medialogia experts) used as the basic criterion. Throughout the year, SibAcademBank has always been present on this Top 30 list in different positions, yet this is the first time the bank has ever managed to reach the 11th position among all Russian banks, reports the bank’s press

Metallurgical Industrial Complex of Nizhniy Tagil (part of Evraz Group) summed up the results of the ongoing sports competition that was attended by over 15,000 metallurgists and lasted for a year. There were 13 categories each for male and female participants to compete, and each category was further subdivided in four groups depending on the number of people. The winners were awarded in each group, based on their success in all kinds of sports. Thus, the team of the blast-furnace shop became the champion among the largest shops, the heavy section shop won in the second group, the teams of

The new 120-megawatt turbogenerator was launched at Astana-Energia power station located in Astana, the capital of Kazakhstan. This piece of equipment is based on T-120 turbine produced by Yekaterinburg-based Ural Turbine Plant. The Prime Minister of Kazakhstan Danial Akhmetov attended the launching ceremony. ‘This is the 38th turbine to have been shipped to Kazakhstan in the history of the Ural plant. Another T-120 turbine is now being assembled in Pavlodar. We see this market as our top priority, this is why we keep strengthening our ties with the Republic of Kazakhstan,’ says Vitaliy

The electricity bills are going to increase significantly over the next three years, with the figure going up 18% in 2010 compared with 2006, reports the press officer of the Russian Federation Ministry of Economic Development. In 2007, the fares will only go up 10% compared with 2006, but this figure will come to 13% for population. In the future, however, the electricity will be growing more expensive at a much faster pace, as the government has decided to speed up the growth of gas prices for the country’s industries. It was initially agreed to gradually decrease the price growth speed and

The Board of Directors of Sverdlovsk Gubernskiy Bank looked at their success in 2006 and made plans for 2007 in the course of the traditional end-of-the-year meeting. The Board members, headed by Chair Galina Kovaleva (First Deputy Head of Sverdlovsk Region Government and Minister of Economy and Labour), were presented with the full account of the bank’s activity in eleven months of 2006 and of the budget performance; they adopted the next year’s budget as well. The attendees observed that the bank’s performance in 2006 was quite satisfactory: not only did the bank double most of its income

‘I don’t think that after the excise duty imposed on strong drinks goes up, the consumers will switch to natural wine that will not be affected,’ Dmitriy Taf, Head of the Ural Division of the National Liquor Association, said to UrBC representative. ‘The excise duty rates increase every year, and I don’t believe they are going to cause any imbalance in the consumption patterns this time,’ Mr Taf said. The excise duty imposed on strong drinks and wines will go up on January 1, 2007. These changes are not going to affect the natural wines such as champagne and sparkling wine and carbonated

Even though the holiday season is in full swing, SKB-Bank keeps working and expanding its ATM network; some new ATMs have recently been introduced in Nizhniy Tagil, Verkhnyaya Salda, and Chelyabinsk. The fist ones appeared in Verkhnyaya Salda and Chelyabinsk; they are located in the bank’s offices at 73 Engels St. and 72 Svoboda St., respectively. The ATM in Nizhniy Tagil is to be found at 2 Lenin St. ‘SKB-Bank managed to double the number of its ATMs and cash desks in 2006; the figure now comes to 220. Our ATMs are available in Moscow, Sverdlovsk, Rostov, Tyumen, and Chelyabinsk Regions. I’m

‘A brand is the company’s image projected (or failing to get projected) onto the client’s mind. A re-branding campaign is thus aimed at building the desirable image of the bank among their target audience,’ says Alexander Lopukhin, Vice President of the Association of Regional Russian Banks ‘Brands reflect the banks’ competitive position on the market, they make the banks differ. The main idea behind a brand is a promise that shows the value of the bank’s offer. Brands are built through visual images and messages that motivate a client to use this certain bank,’ Mr Lopukhin observed. ‘A

‘Holding a re-branding campaign is like buying a new suit. One looks more stylish and modern in new clothes, it’s a way of saying that a person has changed not only on the outside but also on the inside. A re-branding campaign is also a good way to advertise new products and improved service. Re-branding as such tells the world that a bank is capable of changing and becoming more up-to-date,’ Alexander Filyurin, Director of Melekhov and Filyurin Advertising Agency Ltd. said to UrBC representative. ‘Re-branding campaigns normally raise the company’s market value and make the amount of

‘The so-called Schabarchin house has been a listed building since 1993. It is also on the state building preservation program,’ Yuri Kurashov of Sverdlovsk Region Ministry of Culture said to UrBC representative relating to the recent demolition of the house by Noviy Grad, the local developer. ‘This builder has been putting up dwellings in this area, thus damaging the state property. It is likely that the company will be sanctioned: firstly, it is now impossible to commission the new building, and secondly, if such a decision is taken, part of the building at 72 Khokhryakov St. might be

Yekaterinburg council adopted the city budget for 2007 today following the approval of the document by the municipal Duma on December 26, 2006 (registration number 107/34). The budgetary profits come to 13,451,674,000 RUR, the expenses amount to 14,753,520,000 RUR.

The public prosecution authorities of Knanty-Mansiysk Autonomous Region placed a petition with the regional court asking to reconsider the case of Ilya Gaffner, head of SevTyumenTransPut, involving arrears of wages, reported the Public Prosecutor of the region Nikolai Vetyugov. The document states the need for nullifying the original sentence (the court found Mr Gaffner not guilty) and for placing this criminal suit with the Court of Appeal. The initial hearing was completed on September 20. 2006. Mr Gaffner was charged with failing to pay the wages to his employees of SevTyumenTransPut and

TyumenTransGas is trying to draw up its plan of purchasing spare parts and equipment from Ural Turbine Plant (part of Renova Group) 2 to 3 years beforehand. This makes the purchasing process much easier and more organized in terms of proportionality and speed. Besides, the Tyumen company is interested in involving the plant in servicing as well as in the reconstruction of the currently operating Ural-made gascompressor units. Like their colleagues from the other enterprises, experts of TyumenTransGas have presented the turbine producers with the full account of the current condition of their

Six violations of the environmental legislation requirements were found at Rezhnickel Production Association in the course of the inspection conducted by Rostechnadzor, the environmental watchdog. As a result, this authority issued thirteen orders and three reports on administrative offenses, with 17,000 RUR worth of fines to be paid. The faults have not been fully eliminated yet, reports the spokesperson for Rostechnadzor in the Ural Federal District.

SibAcademBank obtained a $60m syndicated loan from the European Bank for Reconstruction and Development. The loan will be transferred to the bank in two installments. Tranche A comes to $20m owned by the European Bank for Reconstruction and Development proper and is offered for four years. Tranche B is worth $40m and comes from ING Bank N.V. and Raiffeisen Zentralbank Österreich AG. ‘This is the first case of some Russian regional bank obtaining a syndicated loan from the international financial entities for two years,’ says the report of the European Bank for Reconstruction and Development

The foreign trade turnover in Nizhniy Tagil area came to $2.5bn in January-November 2006, which exceeds the figures for eleven months of 2005 by 7%, report the local customs. According to the data provided by the freight customs declarations filled at Nizhniy Tagil customs, around 180 legal entities dealt in foreign trade in January-November 2006. The customs processed 24,800 freight customs declarations (which exceeds the number of last year’s declarations by 27%); the freight turnover amounted to approximately 4m tons. Over 2bn RUR were received by the federal budget. The customs

The mortgage loan portfolio of SibAcademBank is now worth more than 5bn RUR. These impressive figures are the result of six months’ hard work. The bank is now offering mortgages in over 60 Russian cities and towns, and it is the mortgage lending that is going to become the bank’s top priority in 2007. In addition, SibAcademBank has been stimulating the demand for mortgages through attracting foreign investments. It has recently signed a $15m agreement with the European Bank for Reconstruction and Development; this money is expected to be spent on mortgage loans, reports the bank’s press

Uralvneshtorgbank and Izhevsk business club conducted a presentation workshop for businesses on December 19, 2006. The workshop was attended by over 100 CEOs, financial directors, and chief accountants. The Director of Izhevsk subsidiary of Uralvneshtorgbank Alexander Shishmagaev gave a talk on the services the bank has in store for businesses and spoke about the ongoing merger with SibAcademBank under the brand URSA Bank. This merger is going to enhance the bank’s business service potential even further, in terms of both greater volumes and better quality of small business loans and in terms

Twelve violations of the environmental legislation requirements were found at UralElectroMed in the course of the scheduled inspection conducted by Rostechnadzor, the environmental watchdog. This resulted in 18 orders to eliminate the violations and in 8 reports on the administrative offenses, with 25,000 RUR worth of fines to be paid, reports the spokesperson for Rostechnadzor in the Ural Federal District. In addition, Committee of Rosnedra (Russian Subsoil Resources) for early termination of enjoyment rights (part of the Federal Subsoil Resources Agency) annulled the license allowing