Center-invest Bank Took Part in "World Hour" Environmental Event
<p>On Saturday 25 March all of Center-invest Bank’s offices switched off their lights from 20:30 to 21:30 in support of World Hour. This is an international event organised by the World Wildlife Fund (WWF) to draw attention to climate change.</p>
On 3 April Moody’s Investors Service upgraded Center-invest Bank’s long-term local- and foreign-currency deposit ratings to Ba3 from B1. The outlook on these ratings remains stable.
Center-invest Bank Doubles Profits in 2016
Center-invest Bank has presented its results for 2016, based on its IFRS financial statements audited by PricewaterhouseCoopers Audit. The bank improved its balance sheet structure and increased its reliability and investment appeal. Its profits exceeded RUB1bn (+87.7%).
Center-invest Bank has introduced a new product offering the same 10% interest rate as its government-subsidised mortgage programme.
Center-invest Bank won two categories in the recent Kuban Financial Market Leader Competition: «effective credit policy» and «contribution to improving financial literacy in the Kuban region». The awards were presented by the governor of Krasnodar Krai, Veniamin Kondratev, during the Russian Investment Forum in Sochi.
Last month The Banker magazine published its annual ranking of the Top 100 Russian banks. Center-invest Bank has moved up the ranking, thanks to its work with the real economy (lending to the real economy accounts for 86.27% of the bank’s assets).
On 3 February 2017 Moody′s Investors Service affirmed Center-invest Bank’s B1 long-term rating for deposits and senior debt, outlook stable. This was following its annual visit to the bank.
Center-invest Bank is to be an official partner for Russia’s Financial Literacy Week 2017 for Children and Young People, which is an initiative of the Russian Finance Ministry.
Mortgage Volumes More Than Doubled
In January to November 2016, Center-invest Bank made 5,000 mortgage loans totalling RUB8.2bn. This was more than double its volumes for the same period of last year. The number of mortgage loans increased by 50%. The weighted average interest rate was reduced by 1.5 percentage points to 12.53%. The growth in mortgage lending has been achieved thanks to a government-subsidised mortgage programme and the bank’s own retail loan programmes.
The Krasnodar Krai Public Chamber has bestowed a «Public Recognition» award on the Financial Literacy Centre in Krasnodar. The Centre is a joint social and educational project of Center-invest Bank and Kuban State Technological University.