On February 14 Bank Vozrozhdeniye opened the Representative Office of its Northwest Regional Centre in Saint Petersburg (NWRC).

18 February 2004

The opening ceremony of the Bank Vozrozhdeniye’s Northwest Regional Centre in the northern capital was attended by Alexei Gordeev, Deputy Chairman of the Russian Federation Government and Ilya Klebanov, Authorized Representative of the President of Russia in the Northwest Federal Region. Yuriy Osipov, President of the Russian Academy of Science and members of the Saint Petersburg Government, representatives of Northwest regions, as well as general managers and entrepreneurs of the above economic region were also present. Bank Vozrozhdeniye was represented by its President Dmitriy Orlov, deputy Chairmen and members of the Bank’s Management Board, as well as by Yuriy Novikov, Deputy Chairman of the Bank Vozrozhdeniye’s Management Board.

At the opening ceremony of the new Regional Centre Dmitriy Orlov mentioned that Vozrozhdeniye is one of the most “branch” Russian banks and is represented in nearly twenty Russian regions. The Bank has long been presented both in Saint Petersburg and in other districts and cities of Northwest, such as Kaliningrad, Petrozavodsk and Murmansk. In the process of developing its branch network and optimizing their operations the Bank selected so called “cluster” principle of its development, as the Chief of Vozrozhdeniye emphasized. Among the major regional branch “clusters” in Vozrozhdeniye’s possession, along with the above group of Northwest branches and the dense network in the Moscow region (nearly 40 branches) there are big branch “clusters” in the South of Russia (6 branches), in the Volga region and the Ural region (5 branches).

NWRC will undertake the task of coordination and expansion of the Bank Vozrozhdeniy’s activities throughout the Northwest economic district. Streamlining and optimizing employment of the Bank’s financial resources in this mega-region will also be the priority of NWRC. Their activities will be aimed at integration of finance flows, contributing to development of the region’s economy, strengthening of the production forces, developing of the production infrastructure, as well as establishing of new financial and economic ties and creation of new job positions.

The Vozrozhdeniye’s recognized authority in the business and financial community across the country and its wide range of banking products and services, as well as its extensive branch network and verified economic strategy combined with the flexible customer policy can be considered as significant resources. They are going to bring the Bank’s position in the Northwest to the new quality level, to enhance the efficiency of the Bank’s operations and ensure its strong competitive position in the region.

Vozrozhdeniye Bank has completed successfully the year 2003. For the passed year the Bank Vozrozhdeniye’s net assets increased by 53% and topped RUR 26.6 billion
Bank Vozrozhdeniye joined 10 top banks on retail deposits.