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Section 1

   Last year 2004 the Bank of Russia continued reforms in the bank sector of economics.

   JCB "ZARECHYE" PSC was one of the first among all the Russian banks to join the individual deposit insurance system that came in operation.

   Taking into account the transition of the banking system to the International standards of accounting JCB "ZARECHYE" PSC prepared a trial statement for 9 months of 2004 based on the international principles.

   A favorable macroeconomic situation in Russia during 2004 promoted positive tendencies in the bank sector of Tatarstan.

    During the financial year the number of independent credit institutions in Tatarstan reached 27, thus allowing the republic to hold the 5th place among the regions of Russia and the 2nd place in the Volga region in terms of this indicator while by the number of large banks (with the registered capital over 150 million rubles) Tatarstan is the second after Moscow. Besides, 47 branches of credit organizations from other regions of the country operate in the republic.

   The own funds of Tatarstan banks 1.6 times increased during the financial year. One should mention that in 2004 JCB "ZARECHYE" PSC did much to increase the registered capital.

   As on January 1, 2005 JCB "ZARECHYE" PSC holds the 10th place among the banks of the RT by the amount of attracted resources and the 9th place by own capital.

   During the whole accounting period our Bank was increasing its profit. By the annual profit gained in 2004 JCB "ZARECHYE" PSC took the 7th place among the banks of Tatarstan

Section 2

    In 2004 the macroeconomic situation in general was favorable for the economics of Russia. The rate of growth in production of goods and services, real money incomes of individuals, investments in the fixed capital exceeded figures of the official forecast.

    The rate of growth in the gross domestic product was rather impressive. This, first of all, was promoted by favorable external factors, such as very high export prices for raw materials (especially for oil).

    Last year an expanded domestic demand and growing economic activities were observed. Individual consumer expenses significantly increased followed by growing inflow of investments in the fixed capital. Positive tendencies were observed not only in export-orientated branches but also in branches servicing the domestic demand.

    The year 2004 was marked by significantly increased national currency to US dollar exchange rate and growing debit balance of payments of the country.

    These conditions promoted further development of positive tendencies in the bank sphere. The volumes of crediting continued to grow, the banks more actively operated on the market of crediting individuals.

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Контакты 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

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