OREANDA-NEWS. November 03, 2009. Sviaz-Bank’s Management Board held an enlarged meeting in Moscow. The meeting was attended by Vladimir Dmitriev, Chairman of the Bank for Development and Foreign Economic Affairs (Vnesheconombank) State Corporation; Anatoly Tikhonov, First Vice Chairman of Vnesheconombank and Chairman of Sviaz-Bank’s Board of Directors; Vnesheconombank’s top officials; Management Board members, and managers of Sviaz-Bank’s 49 regional branches, reported the press-centre of Sviaz-Bank.

The meeting was convened to discuss the results of measures undertaken to restore the Bank to its financial health, and guidelines for developing the Bank’s branch network in the period up to 2014.

According to Vladimir Dmitriev, the plans for Sviaz-Bank’s future growth call for the use of the Bank’s intellectual potential and technological potentialities of its branch network: “A vast network of branches, a processing center, cooperation with the Post of Russia, and incorporation in Vnesheconombank’s group will give unique development opportunities to the Bank. Apart from its principal functions of providing banking services to corporate and individual customers, Sviaz-Bank may become a driving force for one of Vnesheconombank’s key activities - support for small and medium-size business.”

Denis Nozdrachev, Sviaz-Bank’s President-Management Board Chairman, said in his address: “The Bank’s future lies in an extensive well-organized and effectively managed federal network with a core infrastructure requiring dynamic development. We certainly realize that we will face tough competition and run technological, managerial, and other risks. The heaviest burden of coping with these challenges will fall on the managements and employees of Sviaz-Bank’s branches.” Denis Nozdrachev said that the Bank’s Management Board will assess every aspect of each branch’s performance after the branch network’s operations in the current year have been summed up, and called on the managers to display creative activity to the best of their abilities, and reminded them that the Bank’s foremost objective is to help repay the funds the government spent to make Sviaz-Bank financially healthy again.

The meeting was a good occasion for the Management Board to report to the participants the results of the branches’ performance in nine months of 2009, inform them of its approaches to business planning for 2010, the goals and objectives of the branch network’s development in the period to 2014, the Bank’s lending policy toward corporate borrowers and small and medium-size businesses, challenges and trends, the objectives of, and requirements to, the sale of retail banking products, and other key aspects of the branches’ operations.