Rostovsky branch of Bank ZENIT summarizes five-year performance
In 2009, Rostovsky branch of Bank ZENIT will commemorate its 5th anniversary. Over this period Bank ZENIT has significantly fortified its positions in the region and joined the list of 20 largest commercial banks of Rostov Region in terms of corporate lending.
Today, the clients of Rostovsky branch are the majority of the largest companies in the region. Cooperation with them is not limited to servicing current clients' business and financial operations, working capital lending or raising temporarily uncommitted funds into deposits and bills of exchange of Bank ZENIT, but also comprises joint implementation of long-term investment programs.
Despite the financial crisis, Rostovsky branch of Bank ZENIT accomplished its tasks and made balance sheet profit, amounting to 244 million rubles in 2008. It increased the volume of corporate lending to 1.845 billion rubles (as of December 31, 2008). Private lending grew by 13% to 0.2 billion rubles. In 2008, Rostovsky branch attracted 69 new clients, its client base was renewed by 30% and included 236 operating companies at the end of the year. Turnover of their accounts reached 4.6 billion rubles.
When commenting upon the five-year performance, Managing Director of the Branch Dmitry Gorev said, "We have reached good financial indicators by our fifth anniversary. The branch's activities have become the basis for providing clients in Rostov-on-Don and Rostov Region with a wide range of high-quality services and banking products. I heartily thank our employees for their devoted and highly-professional work, and I am very glad that we may be proud of our results achieved in all our business areas. This has undoubtedly become possible thanks to our professional team who works in the branch and contributes to the success of our bank every day".
FOR REFERENCE
Banking Group ZENIT was formed in 2005 as a result of the purchase by Bank ZENIT of a controlling stake in JSB Devon-Credit (OJSC). In 2007, the Banking Group acquired OJSC Lipetskkombank and JSB Sochigazprombank LLC (later renamed into Bank ZENIT Sochi). OJSC Spiritbank (the city of Tula) joined the Group in December 2008. According to the consolidated financial statement of the Banking group for 1H2008, made in accordance with IFRS, equity capital of the Banking group amounts to $832 mn, assets amount to $7,777 bn. The Group provides a full-scale range of banking services in the following areas: comprehensive services to the corporate clients, retail services, private banking, investment banking and interbank business. Banking Group ZENIT is represented in 23 of 83 regions of the Russian Federation; its own retail network consists of 164 points of sale. The Group has created a wide international correspondent network of banking partners, with co-operation from more than 80 international institutions in Europe, America and Asia. Bank ZENIT is currently rated Bа3/Negative by Moody's and B+/Negative by Fitch.
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