Sergey Chernenko, Chairman of the Management Board of FUIB:

We expect the conditions of restricted liquidity to remain next year; this is why the competition among banks for a depositor will remain tough. Also, high cost of resources will facilitate development of highly profitable for the bank products, such as consumer lending. In conditions of decreasing demand for produce of export-oriented industries their share in loan portfolios of banks will be going down. In 2013 FUIB will retain the focus on maintaining its business growth rate, operating efficiency and customer service quality enhancement. In corporate business the key development areas will be the products and services for small and medium enterprises, in particular, loans for agribusinesses, documentary operations and factoring. In 2012 we launched the Internet banking for the bank’s business customers and plan to develop thoroughly this service, so that it becomes as successful as the Internet banking for individual customers, “PUMB Online”. We will continue investing actively in the IT infrastructure of the bank, as this will ensure our increased flexibility, quicker decision making and launch of new products. Before the end of 2012 we will offer to individual customers a credit card and expect that next year this product will become one of drivers for the FUIB’s retail business growth. Also, we will continue enhancing customer service quality, as in the near term the service quality will become one of the key criteria for the customer in choosing a bank.

Source: “Comments” weekly No 50 dd. 28.12.12