foir print

07.11.2007

Bank Center-invest: sustainable development of the South of Russia

On November 7th a meeting between the top managers of Bank Center-invest and international financial institutions – EBRD (London) and FMO (Netherlands) took place in London. During the meeting a project: “Bank Center-invest: sustainable development of the South of Russia” was presented.

Based on the analysis of the major development trends of the South of Russia, Bank Center-invest has prepared and implemented with success a complex of procedures and actions reflecting the best world practice for its customers. International reporting standards, independent ratings, internal control and risk management systems allow the Bank’s customers to be competitive at both

Russian and international markets. A bright example of this is OJSC District Heating company “Teploenergo” (Taganrog), which became a finalist of the international contest in the sphere of ecology and sustainable development FT Environmental Awards, established by The Financial Times newspaper and Citi Private Bank. In accordance with international experts’ appraisals, “Teploenergo” is one of the best district heat and energy enterprise in Central and Eastern Europe.

Sustainable development of the South of Russia allows Bank Center-invest to bring its experience to the other regions of Southern Federal District due to Bank’s important branch network development. The main attention will be is focused on improving living standards of the Southern Russian population via consumer lending and mortgages, implementation of new technologies in servicing SMEs customers, industrialization of agriculture and implementation of energy-saving technologies in all economic sectors.

International experts also highly appreciated development of Bank’s IT system on the basis of SAP for banking as well as development of international standards of internal control and risk management systems in accordance with Basel 2 recommendations.

This meeting was the final stage before disbursement of the funds in the framework of long-term syndicated loan facility from the international financial institutions.