‘The fact that the European Bank for Reconstruction and Development bought our shareholding, an increase in the bank’s capital, and our actual growth dynamics have all contributed to SKB-Bank’s rating promotion,’ SKB-Bank’s Chairman Vladimir Pukhov said to UrBC.

‘For one, RusRating gave us BB- rather than the original B+, while Fitch Ratings affirmed our rating at B- (which is what most Moscow-based banks got as well) and Moody’s promoted us from B2, Stable Outlook to B2, Positive Outlook at the end of 2007,’ he added.

‘I believe our success is based on a few key factors. Firstly, we offer our customers appealing terms, secondly, we’ve created a unique sales system, and thirdly, our advertising and promotion campaigns are designed to be memorable and to induce positive feelings. The combination of all these results in the growth dynamics we had last year,’ the Chairman said.