OREANDA-NEWS. January 28, 2011. Crediting is one of the main directions of any bank's activity, Kredit-Standart open joint-stock commercial bank is not an exception. The credit policy concept introduced by the bank starting 2008, contributes to expansion of volumes of crediting and incomes from crediting with provision of adequate credit risks by launching corresponding effective procedures and control tools.

Director of Crediting Department of Kredit-Standart bank Irina Stepanova gave interview to our correspondent and shared the results of bank's credit activity.

- How does Kredit-Standart treat its clients and crediting as a whole?

- Clients are our main asset, and we do our best to help them to develop their business. Our main clients are legal entities, both large and strategic enterprises of Uzbekistan and small business. Their share in bank's loan portfolio made up over 98% as of the end of 2010.

The bank experts use individual approach in the work of with this group of corporate clients, they try to comprehend client's purposes and offer the best way of their achievement.

As for crediting individuals, for the last 1.5-2 years the bank rooted its position in this market segment and launched a range of consumer products including credits for the purchase of air tickets, construction materials, educational services.

To be noted, one of our main competitive advantages is that our bank is one of few banks to offer scoring assessment of individuals. This system envisages assigning client rating on the basis of client's income and on such factors as the education of the potential borrower, work experience, present state of pension account, the presence of family and children, own assets, etc. There are 20 factors to help us to classify the client needs and assess the credit risk.

I would also like to pay attention to high level of credit portfolio quality. Presently the bank does not have any overdue credits.

I think this is first of all the result of working system for credit risks assessment and interaction with branch offices. In product development we try to balance client and bank's interests, help our client to achieve his purposes and bank – tolerance credit risk level.

As for work with corporate clients (majority of our clients are corporate clients), we focus on the project itself, assessment of its adequacy, success, we forecast client's money flow and assess the client's ability to implement its project and repay the credit in time. The credit security is the secondary source for credit repayment if business idea failed.

- What are the results of Kredit-Standart bank's credit activity in 2010?

- Kredit-Standart worked dynamically the last year. Thus, the bank extended 43.2 billion soums, the index significantly exceeds the figure for 2009. Last year the bank provided the required credit portfolio quality and does not have any overdue credits as of 31 December 2010.

On the results of 2010 Kredit-Standart bank extended credits to fat and oil enterprises. Thus, Toshkent Yog'-Moy Kombinati received over 3 billion soums, Kattaqurg'on Yog'-Moy received 5 billion soums.

As a whole, Kredit-Standart bank extended credits for the purchase of raw materials for fat and oil industry worth a total of 12.6 billion soums. Special attention to this sector of economy is explained by the importance of this sphere since mainly local raw materials are used in the production process.

Moreover, in 2010 the bank jointly with Uzaeronavigation Center under O'zbekiston Havo Yullari, SamAntep Gilam Ltd and Anglesey Food Ltd carried out implementation of leasing projects on purchase of equipment to increase the stability and development of our client's business.

Last year the bank extended consumer credits for different purposes including the purchase of household appliances, furniture, construction materials, air tickets, tours, the conduct of events and for education. Thus, in 2010 the bank extended consumer credits worth a total of 333 million soums.

Thus, Kredit-Standart bank took active participation in implementation of state programs. The bank extended 12.9 billion soums for implementation of investment projects aimed at modernization, technical and technological production renewal. Totally, for 2010 the bank's branches extended credits worth 13.6 billion soums to subjects of small business.

- What is the forecast for the bank in 2011? And what will the bank's credit policy be?

- In 2011 the foreground task for Kredit-Standart bank is further increase of the client base, including the attraction of new clients seeking for credits mainly in real sector of economy. We will be working in this direction following the adopted principles of economical development set by the state for 2011.

Of course special attention will be paid to crediting small business within the framework of announcement of 2011 the Year of the small business and private entrepreneurship.

We also plan to keep working on further expansion of retail products for individuals and we will continue to use our corporate website as a channel where any client, an individual, can use a credit calculator to assess the opportunity to get a retail credit.