OREANDA-NEWS. May 18, 2012. The Bank of Moscow and the Kremlin Cup International Tennis Tournament have taken another step in developing their many years of co-operation and have signed an agreement on developing their partnership.

In 2012, the Bank of Moscow will be the only – Titular – partner. The name of the tournament will become the Bank of Moscow Kremlin Cup. Within the scope of the agreement, the Bank of Moscow will, among other things, provide the entire prize fund for the tennis tournament, which is to be held from 13 through 21 October 2012 in the Olympic sports complex. This year, the prize fund will be USD 1 534 500.

"By assisting the most significant annual international tennis competition in our country, we are not only confirming our striving towards socially responsible business on our part, but are also helping create a wonderful celebration for Muscovites and guests to the city", commented Mikhkail Kuzovlev, President – Chairman of the Management Board of the Bank of Moscow. "Since the Kremlin Cup’s inception, it has become an integral part of the sporting life of Russia and its capital city."

"The Kremlin Cup and the Bank of Moscow are linked by many years of friendly partnership", noted President of the FTR of Russia Shamil Tarpishchev. "It is no exaggeration to say that, without the support from the Government of Moscow and the Bank of Moscow, there would have been no victories for our tennis players, of whom we are rightly proud. Nor would the actual tournament have existed, yet now it has become a significant event in our tennis life. We are grateful for the assistance and support provided by the Bank of Moscow to the Kremlin Cup. The signing of the agreement on extending our co-operation is one more step towards the future of our mutually beneficial relations, which I do not doubt will expand and strengthen as time goes on. Together, we cannot but succeed!"

Since 1998, the Bank of Moscow has supported the Kremlin Cup International Tennis Tournament and, since 2003, has been its General Partner.