OREANDA-NEWS. September 24, 2009. A gala ceremony was held in Sochi at 18 Constitution Street to open a backup office of Sviaz-Bank’s branch headquartered in Krasnodar, reported the press-centre of Sviaz-Bank.

One of the priorities facing the Bank’s new office will be providing banking services to Olympic projects financed by Vnesheconombank as part of preparations for the 2014 Olympic Winter Games.

The opening ceremony was attended by Vladimir Dmitriev, Chairman of the State Corporation, Bank for Development and Foreign Economic Affairs (Vnesheconombank), Anatoly Tikhonov, First Vice Chairman of Vnesheconombank’s Management Board and Chairman of Sviaz-Bank’s Board of Directors, and Denis Nozdrachev, Sviaz-Bank’s President-Management Board Chairman.

“Sochi has always been a city of federal significance, and its name is familiar to everyone living in this country. The opening of a second point to provide banking services to Sviaz-Bank’s customers emphasizes its prospects and a special role it will play in preparations for the 2014 Olympic Winter Games, one of the most significant international events for Russia. The choice of Sviaz-Bank to perform this role is yet another sign that Sviaz-Bank stands firmly on its feet now and is growing. Another, and still more important point, is that Vnesheconombank now has an additional pair of eyes to supervise how lawfully the loans made to borrowers to proceed with the Olympic projects are spent. We are certain that Sviaz-Bank, more than any other bank, can assume a great majority of tasks to keep financially transparent the construction of Olympic and city infrastructure facilities in Sochi,” said Vnesheconombank’s Chairman Vladimir Dmitriev.

“We appreciate highly the trust put in us as evidence that Sviaz-Bank is ranked among lending institutions capable of providing funding for federal-level projects until they are completed,” said Denis Nozdrachev, Sviaz-Bank’s President-Management Board Chairman. “Our tasks are not, however, confined to our part in preparations for the Winter Games. We want to confirm Sviaz-Bank’s status as a reliable and honest partner. Considering today’s realities and the Bank’s potential, it is extremely important for us to expand the framework of mutually beneficial cooperation between our regional branch and small and medium-size businesses, residents, and guests of Krasnodar Territory.”