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In the accounting period the Bank actively worked with corporate clients in connection with foreign exchange operations continuously increasing their volume. In 2002 money on corporate foreign currency deposits grew more than 3 times comparing to 2001. The client foreign currency income in 2002 grew more than twice against 2001, for this reason the Bank "ZARECHYE" significantly increased the foreign exchange currency sales by order of clients. The dynamic analysis of currency income to correspondent accounts of the Bank shows that the currency was mainly sold on the inter-bank market with 211% growth against 2001, while the volume of currency exchange grew almost four times.
In the accounting year the positive tendency was still observed in the development of client base, both at the account of former and new clients. From the beginning of 2002 over 50 client accounts were opened with the Bank. The dynamic analysis proves the increasing new client account turnover and balances.
The Banks stockholders, namely, Kazan Helicopter Plant PSC and Joint-stock Business Bank Moscow Municipal Bank Bank of Moscow defined basic directions in the Banks work for 2003 and put the main task of rendering conventional and advanced banking services not only to one of the important clients of the Bank, i.e., KHP PSC but also to industrial enterprises established by the latter which participate in the holding. At the same time the Bank should immediately participate in the holding as a single clearing center gradually attracting the affiliate companies of KHP PSC to the membership of the holding.
The stockholders believe that the interaction of member enterprises and organization of the holding will allow KAZAN HELICOPTER PLANT PSC to control the operation of these affiliate enterprises and at the same time to direct their efforts at joint manufacturing tasks and common tasks thus providing the development of mutually beneficial cooperation of all holding members in marketing and manufacturing of products including sales at agreed prices.
The Bank "ZARECHYE" is an equal member of this cooperation chain which, being a financial center, concentrates main money flows and payments of the members and provides credit-based financial support required for technical redevelopment and set-up of the plant and holding members.

 

Contacts

Address: Russia, Republic of Tatarstan,
420032 Kazan, 2 Luknitskogo Str.
Phone: +7(843) 557-59-03, 557-59-65
Fax: +7(843) 557-59-75, 557-59-65
SWIFT: ZAJCRU2K

Bank Zarechye (Joint Stock Company)