OREANDA-NEWS. August 17, 2007. I confirm that Russian Standard Bank has cooperated with the General Prosecutor’s office in addressing the important social topic it raised regarding the consumer lending business. The discussion was professional and constructive. I was particularly pleased that the General Prosecutor’s office was very attentive to the details of how the consumer lending business works, reported the press-centre of Russian Standard Bank.
 
I understood and shared the concerns of the Russian government, and together we identified the most important areas of improvement. Russian Standard Bank quickly made the necessary adjustments to its consumer policy and product lines.
 
The consumer credit market in Russia has reached the next stage of its development, and Russian Standard Bank is uniquely positioned to play an important role. Our experience has given us a deep understanding of consumer profiles and needs, allowing us to bring the most beneficial products to our customers. Throughout this year, we were continuously improving our product lines, including significantly decreasing borrowing costs, making our products more customer friendly, and helping people who have had difficulty paying their loans.
 
I would like to assure both consumers and the government that Russian Standard Bank, as an industry leader, will make every effort and take every measure needed to be the best in the market.
 
I am confident that other operators will follow our initiative and join Russian Standard Bank in its efforts to improve the consumer credit market.