OREANDA-NEWS. December 11, 2007. In September 2007, in pursuance of the plan in expanding its infrastructure the Bank proceeded to create a network of retail offices on the territory of the Uniform Information and Settlement Centre. Retail offices are special subdivisions of the Bank of Moscow not equipped with a front office offering to individual customers the whole range of banking services. Transactions connected with cash are carried out by cash machines equipped with the function of accepting cash which will allow customers to repay loans received from the Bank of Moscow, make cash payments and withdraw cash, pay for utility and telecommunication services. Currently 10 retail offices situated on the territory of the Uniform Information and Settlement Centres are already operating in Moscow.

Over the period from September 12 to November 25 2007 the Bank retail offices have issued credits products to the total amount of over 21 mln roubles. Thus, the Veshnyaki Retail Office alone had granted loans to private individuals to the amount of almost 5 mln roubles. In addition to this, active work is being done with regard to attracting deposits and informing the public of the products offered by the Bank: it took the Retail Offices specialists slightly over 2 months to attract more than 14,000 people.

"Achieving similar indicators has largely become possible thanks to the competent motivation of the retail offices personnel, says the Managing Director of the Retail Business block of the Bank of Moscow Kirill Altukhov. — Thus, many employees have developed their own effective methods of boosting the sales: for example, some economists have held meetings with potential customers informing them of the products offered by the Bank to production grounds. In addition to this, it should also be taken into account that the availability of banking services in the dormitory suburbs of the capital, where we are now opening our retail offices, is low — the banks are reluctant to development the network in the suburbs".

Retail offices are highly technological subdivisions of a new format. Among the key advantages of such offices are the mobility of their establishment: opening of a new subdivision takes about 6 months, in case with retail offices this term is reduced to 2 months. The Bank of Moscow does not discard the possibility of further development of the retail offices network not only within the Uniform Information and Settlement Centres but also on other territories.