OREANDA-NEWS. On October 10, 2008 Within the framework of implementation of Banking group ZENIT Development Strategy approved by its Board of Directors, the expansion of the Banking group presence to promising Russian Federation regions is planned. The Board of Directors of OJSC Bank ZENIT adopted a resolution on participation in the Charter Capital of Spiritbank OJSC (city of Tula). Appropriate documents have been sent to the Central Bank of the Russian Federation, reported the press-centre of Bank ZENIT.

Vladimir Padanin, Deputy Chairman of the Management Board of Bank ZENIT, giving comments on the adopted resolution, said: "Banking group ZENIT Development Strategy envisages aggressive expansion of its presence to Russia regions. We have ambitious goals, and the latest events in the global financial system open new opportunities for major and reliable market players. Our task is to take advantage of those opportunities most efficiently".

Participation of OJSC Bank ZENIT in the Charter Capital of Spiritbank OJSC will allow the Banking group to secure its entry to the promising, speedily developing region, increase the number of its regional presence points, set up additional business in the Tula Oblast. Besides, as Vladimir Padanin noted, "the resolution on participation in the Charter Capital of Spiritbank OJSC is a part of the mainstream of consolidation and strengthening of the country's banking system being currently underway".

The Tula Region is characterized by high-level of its industry and agriculture. The region's proximity to Moscow and its developed infrastructure enhance its economic advantages.

Spiritbank OJSC (Registration No.2053) was established in 1992, and it is currently a dynamically developing independent bank of the city of Tula. The Bank has a branch in the city of Donskoy of the Tula Region, and three additional offices: two in Tula, and one in the town of Novomoskovsk, Tula Region.