News

PricewaterhouseCoopers Audit has submitted its independent auditor’s report of Center-invest Bank’s operations for the year 2011. This will be the sixteenth year that the bank presents its results to its shareholders and partners using International Financial Reporting Standards (IFRS). PWC has verified the high quality of our accounting practices in 2011.

In partnership with the EBRD, Center-invest Bank has launched a new loan programme to promote the sustainable development of SMEs in southern Russia: loans with a term of up to seven years for energy modernization projects.

In March 2012, Center-invest Bank hosted the signing of a multilateral agreement on cooperation under the Youth Business Russia programme of the International Business Leaders Forum (IBLF).

Chairman of the Board of Directors of Center-invest Bank, Dr. Vasily Vysokov, attended the conference “Small Business is Big Business” held in Beirut on 23-24 January 2012 by International Finance Corporation (IFC), the Central Bank of Lebanon (Banque Du Liban) and the Development Bank of Austria. Addressing bankers from the Middle East and North Africa, Dr. Vysokov presented a paper on Center-invest Bank’s experience of financing energy efficiency projects.

The European Bank for Reconstruction and Development (EBRD) has approved two three-year loans for Center-invest Bank, for the sums of 750 million rubles and 375 million rubles. The two parties signed the loan agreement on 12 January 2012. The funds will be used for on-lending to SMEs requiring finance for post-crisis business development projects, and also for the introduction of energy efficiency technologies to modernize production facilities. This will contribute to the sustainable development of the economy of southern Russia.

On 20 December, the management of Center-invest Bank held their traditional meeting with diplomats. Chairman of the Board of Directors of Center-invest Bank, Dr. Vasily Vysokov, updated the diplomats on the bank’s performance and southern Russia’s economic results. He also spoke about the bank’s projects to promote international cooperation.