Vozrozhdeniye Bank issued 250,000 chip cards of the payment system Visa Inernational

30 October 2003

On 28th October Lou Naumovsky, General Director of the Moscow Representative Office of VISA Int. in Russia granted the certificate of issuing the 250,000th chip card to Vozrozhdeniye Bank.

The ceremony took place in the Bank’s Central Office.

LOU NAUMOVSKI:

— Vozrozhdeniye Bank is the absolute leader by number of the issued chip cards throughout the Russian Federation and the Eastern Europe as well. Vozrozhdeniye has moved forward in technological leaders among the banks — members of the VISA payment system.

DMITRIY ORLOV,
Chairman of the Board of Vozrozhdeniye Bank:

— At the moment the Bank has issued over 400,000 bankcards. Judging by the present dynamics and the market forecasts, the further development of this business will continue, in my view, in geometric progression. Moreover, I can’t help saying, that active introduction in circulation of bankcards as a payment tool would facilitate legalizing of retail settlements, and, as a consequence, the increase of proceeds in the budgets at different levels.

MARK NAKHMANOVICH
Deputy Chairman of Vozrozhdeniye Bank:

— This is a very important result for us. Bankcards today — is a mechanism binding the interests of our corporate clients (there are tens of thousands) and their employees, which allows to optimize efficiently their expenses on arrangement of salary payments with application of advanced technologies. Today, we have implemented over 1,500 payroll projects, out of which about two thirds cover the Moscow Region. There are commercial organizations, budget municipal enterprises, pension fund departments, offices of obligatory medical insurance fund, as well as their employees and pensioners.

Vozrozhdeniye Bank issued 250,000 chip cards of the payment system Visa Inernational
According to the Law “About Moscow Budget for the Year 2004” Vozrozhdeniye Bank is approved as a bank, with which the Government of the Moscow Region will continue the joint activities.