 THE CHANGING
FACE OF FINANCE |
Primorsky Krai has branches of 26 banks, both
local and national, and the sector is modernising
to meet the needs of Russian and the growing international
business community offering fast currency transfers
and plastic cards
One of the significant local banks is Primorye
Commmerical Bank, which has its head office based
in Vladivostok and other branches throughout the
region in Nakhodka, Ussurisk and Luchegorsk. Its
chief shareholders include Far Eastern Shipping
Company (FESCO) and ROSBANK, in January 2002 the
bank had 4,500 corporate clients.
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"We are working
in Primorye and for Primorye, creating jobs, paying
taxes and developing a high-quality business environment,"
says Valery Alyoshin, president of Primorye Commercial
Bank.
Primorsky Krai is attractive to the banking sector
due to its location in the centre of the Asian
Pacific region, and the concentration of business
and political interests in the region, comments
Alyoshin, but says an "imperfect legislative
base is limiting the development of banks."
Many small and medium businesses transact deals
'on the side,' without using banking services,
states the president.
One of the top three regional banks in Primorsky
Krai is Primsotsbank, which has over 7000 corporate
clients, and capital of 93 million rubles. Among
services offered are loans to small and medium
businesses and to individuals, mortgages, and
Internet banking. Plastic cards, which are becoming
more and more popular with Primorsky Krais' costumers
are issued by the bank can be used at cash machines
in nearby Suifenhe, China. The bank aims to raise
its market share in the region to ten percent
in the next two years.
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