foir print

05.08.2004

THE OJSC CB «CENTER–INVEST»’S PROFIT HAS BEATEN THE 100 MIL-LION RUBLES MARK

On August 5, 2004 the Board of Directors of the OJSC CB «Cen-ter–Invest» has accepted the Strategy for the 2004-2008 years and approved the results, achieved during the past months of the cur-rent year of 2004. The OJSC CB «Center–Invest»’s profit for Janu-ary - July 2004 has exceeded the 100 million rubles mark (compared to 130 million rubles of profit for the whole year of 2003).

The new strategy presumes the accelerating development of the bank due to including The European Bank for Reconstruction and De-velopment in the list its shareholders and to expansion of the long–term cooperation programs with the international financial institutions and first-rate western banks. Meanwhile, the mission of the Center-Invest bank is the same – provision of the wide range of banking services, produced on the base of international standards and modern banking technologies. The strategy is aimed on growth of bank’s performance by four times. The rise of assets profitability and return on equity is taken for the foreground task.

The strategy contains the detailed vision of the main power-points of the OJSC CB “Center-Invest”: clients, products and busi-ness fields. The enterprises of South of Russia being among the clients of the Center-Invest bank will get an access to the long-term financial resources for their industrialization needs, aimed on taking over the new markets.

All of the modern banking services, offered by the leading European banks to private clients will be available to the popula-tion of the Southern Federal District. We offer mortgage lending, special purpose crediting (for example, car purchase loans), credit card loans, vast choice of banking deposits and personal savings programs, asset management, brokerage and commission ser-vices. The depositors of the OJSC CB “Center-Invest” will get the additional guarantees, confirmed by the international capital. The branch network of the bank will be significantly expanded in Rostov, Krasnodar, Volgograd regions and other subjects of the Southern Federal District.

The results of the OJSC CB “Center-Invest” for the first half of the current year of 2004 in part of fulfillment the figures, established by the Business-Plan of the bank, and budget perform-ance were also approved by the Board of Directors. The profit, re-ceived by August 1, 2004 exceeded 100 million rubles (for refer-ence, the profit received by August 1, 2003 totaled 71,9 million rubles). It was particularly pointed out, that due to the impres-sive inflow of deposits in June 2004, the number of accounts started this month exceeded 3000, totaling in sum 248,5 million rubles.

The clients’ confidence was highly appreciated by the Board of Directors, who made a decision to establish a special prize for the best slogan about the Center-Invest bank. This prize will be played on August 18, 2004 among those, who have chosen the special savings program "The Summer Spirit".