News

A EUR1.117m trade finance deal has been agreed under the “Partnership for Modernization” programme being implemented by Center-Invest Bank and partner banks. ОАО Rezmetkon (Bataisk, southern Russia) has signed an agreement with its Austrian partner, Linsinger Maschinenbau Gesellschaft m.b.H (a customer of Raiffeisenlandesbank Oberösterreich AG), for the supply of equipment using the products of Center-invest Bank Trade Finance Programme.

On 9 May, in the City of London, President and Chairman of the Board of Center-Invest Bank, Dr. Vasily Vysokov, and head of the bank’s London representative office, Olga Vysokova, presented the strategy for 2011-2015 “The Post-Crisis Development of Southern Russia” to our partners and investors.

Center-Invest Bank held its Annual General Meeting of Shareholders on 27 April 2011. Our shareholders elected a new Board of Directors and approved our annual report and the decision to pay dividends on ordinary and preference shares.

Center-Invest Bank has received the prestigious banking award “STP Award 2010” for the excellent quality of its international payments denominated in US dollars. The award is given at the end of each year to recognise excellence in processing payments in foreign currencies.

The President and Chairman of Center-Invest Bank, Dr. Vasily Vysokov, presented the bank’s experience at the summit of BRICS countries. Delivering a paper entitled “BRICS Cooperation for Sustainability”, Dr. Vysokov spoke about the results achieved by the bank through the application of sustainable development principles for the benefit of southern Russia’s population and businesses.

PricewaterhouseCoopers Audit has submitted its independent auditor’s report of Center-Invest Bank’s activities for the year 2010. This will be the fifteenth year that the bank has presented its results to its shareholders and partners using International Financial Reporting Standards (IFRS). PWC has confirmed the high quality of our accounting for 2010.

The Association of European Businesses in Russia has published its latest overview of investment processes in Russia, «How to Invest in Russia». For the first time, the regional focus section is devoted to southern Russia and it features an article written by the President and Chairman of Center-Invest Bank, Dr. Vasily Vysokov, entitled «The Post-Crisis Development of Southern Russia» (http://www.centrinvest.ru/ru/pub.html).

On 25 March, the President and Chairman of Center-Invest Bank, Dr. Vasily Vysokov, delivered a lecture to students at the London School of Economics and Political Science (LSE) entitled «Designing Economics Mechanisms». His audience learnt about the theory and methods of producing balanced socioeconomic programmes designed to provide social stability and the integrated approach to their implementation. Center-Invest Bank has been using these methods successfully for many years, to monitor the reforms being carried out in southern Russia, to produce its own sustainable development strategy, and also to assist its customers in the writing of business plans.