Chelindbank joint-stock bank celebrated its 16th anniversary on October 16, 2006.

According to the spokesperson for the bank, Chelindbank holds a leading position on the regional financial service market. It steadily hits the Russian top-100 and the regional top-10 bank ratings in terms of assets. The priority directions of the bank’s development are lending and retail business.

Within the past months of 2006, the bank’s loan portfolio has gone up by 34% and reached the point of 10.6bn RUR. The volume of natural person accounts amounted to 6.7bn RUR, with the number of Visa cards issued by the bank coming to over 280,000.

The stable financial operation, sufficient capital and effective management make Chelindbank make it a highly reputable business partner for both Russian and foreign clients. It has been cooperating with the European Bank for Reconstruction and Development and the International Financial Corporation and dealing in international transactions using the help of America and Europe’s largest banks (located in the States, Germany, Switzerland, Austria, Italy, and Belgium). The bank has also been enjoying the partnership of PriceWaterhouseCoopers, the auditing firm, since 1994 and auditing its clients according to international accounting standards since 1995.

The bank’s financial success is reached through the joint efforts of the experts from the headquarters, 29 subsidiaries and over 30 subdivisions. Chelindbank is a team of professionals that prove their competence and deep understanding of the banking business in their daily performance.

A lot of attention is paid to modern financial technology development and computer-aided banking, including e-banking, which is particularly convenient for the bank’s clients. The international operations are carried out with the help of SWIFT system, and the dealing is performed using REUTERS; securities transactions involve a virtually available MICEX (Moscow Interbank Currency Exchange) expert, and all the payments among the subsidiaries are made through the bank’s Payment Center.

‘Sixteen is quite a long life for a Russian bank. We have gained a lot of experience, laid a sturdy foundation for the ongoing growth, and built a reliable team of professionals working for the bank. We appreciate the loyalty and confidence of our clients and partners and we are grateful to them for our fruitful cooperation,’ said GD of Chelindbank Mikhail Bratishkin.