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The second double growth of "Center-Invest" Bank within two years in a row.

    On June 8 the annual shareholders' meeting of "Center-Invest" Bank was held. The most important result of the year is the double growth in amount of work carried out by the bank and reaching the before-the-crisis financial level in USD. "Center-Invest " has become the largest bank in Rostov region for its amounts of assets, credit investments, deposits, and profit.

    The year 2000 is the second year in a row when "Center-Invest" has achieved a double increase in results of its work. The following are the main financial performances registered on 01.01.2001:

    • Authorized capital - 160 million roubles;
    • Owner's capital - 205.1 million roubles;
    • Capital account - 990.6 million roubles;
    • Credit investments - 539.0 million roubles;
    • Deposits - 154.9 million roubles;
    • Profit - 17.2 million roubles;

    "Center-Invest" has become the leading bank in the region and is one of the Top-200 banks of Russia. As the chairman of the board of directors of "Center-Invest", Tatyana Nikolayevna Vysokova, has mentioned the clue of the bank's success is its considered strategy, high level of professionalism, and hard work of shareholders, managers and bank officers.

    Aggressive marketing strategy adopted by the bank after the crisis has justified its use completely. The clientele of the bank has significantly increased, as well as the network of branches and additional offices has enlarged.

    Although the amount of work has doubled, number of workers increased only 1,1 times more. Such a growth in labor productivity was made possible because of the introduction of new technologies of cash service, crediting, risks management, assets management, liabilities management, internal control.

    In the year 2000 the bank has started to issue its Europay Int. plastic cards. "Center-Invest" has become the only Rostov bank that issues plastic cards of Eurocard/MasterCard and Cirrus/Maestro. The equipment has been retooled.

    Last year the bank held a series of "Business plan 2001" seminars. The board of directors allocated 1 million roubles for 3000 school children to be trained free of charge in Internet technologies. Usage of these technologies in small business make it possible to increase sales volume as much as 2-4 times.

    "Center-Invest" was the first bank in Rostov granted with "The Trust Certificate" by Rostov region Board of Tax Ministry of Russian Federation.

    The bank is an obvious example of how one can successfully run a business in Russia to match not only Russian, but also international standards. In 2000 the bank had its forth time of being audited by Price WaterhouseCoopers company. The experience of working in Russia successfully in accordance with international standards has made it possible for "Center-Invest" to worthily represent the banking system and Rostov region at the activities held by International Economic Forum, World Bank, European Bank for Reconstruction and Development, Black Sea Bank for Trade and Development, "Euromoney" magazine.

    Hard work done by the bank's specialists made it possible to receive the credit provided within the framework of "Black Sea Bank for Trade and Development" demand line of credit for small- and middle-scale business of the South of Russia. "Center-Invest" bank intends to continue its work of accumulating investments into Rostov region.

    The shareholders decided in the meeting not to pay dividends on ordinary shares for the year 2000. The preferred shares dividends will be paid in amount of 20% to their par value. The date when payment starts is 09.06.01.

    It was decided to allocate the profit in amount of 17 230 thousand roubles as follows:

    • Profit tax - 9856 thousand roubles;
    • Securities emission tax - 624 thousand roubles;
    • Reserve fund - 5498 thousand roubles;
    • Charity - 192 thousand roubles;
    • Dividends - 31 thousand roubles;
    • Economic incentives fund - 100 thousand roubles;
    • Other - 929 thousand roubles.

    Vysokova T.N. has been unanimously reelected as a Chairman of the board of directors of "Center-Invest" bank.