Second Conquest of Siberia

ROSBANK mobilizes financial and material resources of Novosibirsk and the region
Novosibirsk Mayor Vladimir Gorodetsky and President of ROSBANK, Russia’s largest bank, Yeugeny Ivanov concluded a general agreement on cooperation. The document says that the city administration and the bank are going to mobilize financial, material and other resources with a view of structural reorganization of the economy, financial and credit market, for social development of the city.

In the network of the agreement, ROSBANK is going to provide financing of governmental and public programs realized on the territory of the city of Novosibirsk, complex bank servicing of accounts of enterprises and organizations. The Moscow bank also plans to find and attract investments in the regional economy. After creation of the Structured Finance Group, ROSBANK is positioning itself as the country’s largest mediator in financial consulting of Russian and foreign companies.

From its part, the city administration of Novosibirsk, in accordance with the established procedure, will nominate ROSBANK the operator of financing and servicing of programs fixed in the budget and realized on the territory of Novosibirsk. The city administration is going to create necessary conditions and mechanisms for development and realization of joint projects; it will also help the bank with its investment activity in the city of Novosibirsk.

The parties believe that the agreement on cooperation will make for development of the financial and credit market of Novosibirsk considerably and will further increase its economic potential. Earlier, in April 2002 ROSBANK concluded a general agreement on cooperation with the Novosibirsk region. A bank branch of ROSBANK was opened in Novosibirsk in October.


Translated by Maria Gousseva

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