OREANDA-NEWS. March 30, 2012. Renaissance Credit, a leader in the Russian consumer lending market, has significantly improved the quality and performance of its distribution chain.

In 2011, the bank's branch network grew by 40%, with the total number of branches reaching 105. In addition to full-service branches, “light-format" branches (those offering no cash services) appeared, allowing additional sales channels to be developed with a minimum expenditure of time and money.

Renaissance Credit began working in new, promising regions, such as the Republics of Sakha (Yakutia) and Komi. This has enabled the bank to broaden its geographical coverage, which now includes 61 of Russia's regions.

In so doing, the bank not only increased the number of branches, but also improved the branch network's performance by 50%. The number of products and services sold per branch grew by a factor of 1.9. The number of cash loans issued to new customers more than tripled, and direct sales at branches rose from 35% to 56%.

The network of point-of-sale outlets expanded over the past year by 66% and now totals 18,403 outlets. Renaissance Credit renewed cooperation with a major national partner — the Technosila hypermarket chain, which sells electronics and household appliances. This partnership will bring the bank closer to meeting its objective of issuing 120,000 more consumer loans in 2012 than during the previous year.

Renaissance Credit achieved noteworthy success in using the Internet to attract and serve customers. Borrowers now have the opportunity to complete an electronic loan application, submit it through the bank's website and receive a decision on the loan, also via the website, in only 10 minutes. In addition, customers may now apply online for a Renaissance Credit Clear Card — a new product in the Russian banking sector. The Clear Card is delivered to customers by courier after they have completed an application, which is available on the Renaissance Credit website.

“In the past year, our priorities were to expand the bank's footprint in the regions and to improve the network's operational performance. We consider these tasks to have been completed. This year, we will keep the network growth rate at a moderate level. New branches will be “pinpointed,” with the primary focus on improving the performance of each branch and each staff member,” said Oleg Skvortsov, Deputy Chairman of the Board and First Vice-President of Renaissance Credit.