News

The Euromoney Magazine sponsored the Forum of Central and East European Issuers and Investors held on 16-17 January in Vienna. That was the first European meeting at such a high level after Christmas. The Forum was attended by a record number of participants - more than 800. The only representative of the Russian South was Prof.V.V.Vysokov, Vice President of the Center-Invest Bank, who was invited as the author of the article published in the October issue of the Euromoney Magazine under the title of 'The Center-Invest: a Russian Bank Working to International Standards'.

This main principle of planned economy became the leitmotif of "Biz plan 2001" seminar passed November 15. Organizers of the seminar: "Center-invest" bank and "Rostovenergo" corporation have returned modern sense to this slogan.

In the October "EUROMONEY" issue (160 000 drawing, is sent to leading European financial institutes) was published article of "Center-invest" vice-president professor Visokov "Banking in Russia using IAS").

The western media is sometimes preoccupied with Russia's black economy.Today, while there is a substantial degree of black economic activity, there is a far greater proportion of fully regulated and legal economic activity that fulfils all Russian regulatory standards as well as compliance with the tax code. An increasingly large number of companies are operating at international levels of transparency and financial accounting.

"Centre-invest" has raised greatly working factors at a second half of 2000.Resources of the bank in July firstly exceed 1 milliard roubles (about 36 mln $US).Increasing of resources is reached, first of all, thanks to the credit portfolio, that reached 360 million roubles.

Investment climate and weather in Rostov Region Vasiliy Visokov, Vice-President "Centre-invest" reported: "Investment climate means a general direction of legislation improvement in interests of investors..."

Annual shareholders meeting "Center-invest" has taken place at 9 June. The main result 1999 is: not only the bank but all main clients forced there positions on the market.