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.
Our shareholders noted the high level of competency of Center-Invest Bank‘s staff: their in-depth theoretical knowledge which enables them to resolve difficult issues and to confidently take realistic strategic decisions, their knowledge of Russian legislation and international best practice, and their knowledge of the regional economy and their customers‘ potential.
Our shareholders approved our financial accounts, prepared in accordance with Russian and international standards and approved by independent auditors.
The bank‘s results for 2010 were presented to our shareholders by the Chairman of Center-Invest Bank‘s Executive Board, Anna Shtabnova, who holds a PhD in Economics.
In crisis conditions, Center-Invest Bank maintained its leading position in southern Russia, and we achieved accelerated development in the most promising market segments.
In 2010 retail deposits increased by RUR5.5bn, reaching RUR23.4bn by year end. This creates a good basis for sustainable lending to facilitate our customers‘ post-crisis growth.
Retail lending increased 2.9 times in comparison with 2009. The retail loan portfolio grew by RUR1.7bn, and at FYE 2010, it stood at RUR9.5bn.
Lending to companies and organisations from the real sector of the economy continues to be a priority for Center-Invest Bank. At FYE 2010 our business loan portfolio (corporate customers and SMEs) was RUR23.3bn. During the reporting period we made 5,292 loans totalling RUR31bn. The bank applies the principle that each customer must be treated as an individual: the specifics of their business should be taken into account, and the appropriate personal approach should be identified.
Thanks to our pro-active approach to customer acquisition and our reputation as a reliable and strong partner, 2010 saw a 20% increase in the number of new business customers. At FYE 2010, Center-Invest Bank was servicing 43,092 business accounts.
41,700 SMEs and self-employed individuals choose to bank with Center-Invest. In 2010, we provided these customers with 4,896 loans; with a total value of RUR21.2bn, SME lending was up 35% on 2009.
By implementing our programme "Southern Russia Versus the Global Crisis", we were able to not only maintain our leading market positions in southern Russia, but to also achieve qualitatively new growth. Together with our customers, we are implementing a "Partnership for Modernization" programme. We are helping our SME customers to upgrade their technology and equipment and to be competitive on global markets, and we are developing partnerships for the application of international best practice.
Center-Invest is continuing to run its educational projects "Enterprise for All" and "The Secrets of the Art of Banking", as well as its scholarship programme, and we continue to work closely with southern Russia‘s higher education institutions. The bank integrates sustainable development principles into its operations, striving to maximize long-term profits for the benefit of its shareholders, customers, and employees, rather than focusing on instantaneous gains.
At Center-Invest Bank we are constantly innovative, developing new products and services for our retail customers, SMEs, agribusiness, and energy efficiency. This is to ensure that we can fulfil our mission: to provide the local population and businesses in southern Russia with banking services on the basis of international standards and modern banking technologies.