OREANDA-NEWS. CREDIT BANK OF MOSCOW (CBM) has been named Bank of the Year 2013 by leading Russian banking information portal Banki.ru. The Bank's flagship United Card credit card took the award for credit card of the year, beating off some 800 other nominees.

CBM was nominated for its track record of growth as one of Russia's leading independent lenders, and for the trust and respect that the Bank and its founder and majority shareholder Roman Avdeev have built up over the past 20 years.

“We are honoured to have won this award, which once again underscores our Bank's reputation as one of the safest and most reliable on the Russian market,” CBM CEO Vladimir Chubar said.

“I would like to thank our team of professionals, who strive to provide better service to our clients every day. Winning prestigious awards such as this one is a great incentive to continue growing our business and offering innovative products and services to our customers.”

In the Credit Card of the Year category, the judges cited the convenience and ease of obtaining CBM's United Card, as well as its low fees and attractive terms and conditions including rewards for making purchases and interest on positive account balances.

“We have made great progress in rolling out new technology and services to make our products more accessible and convenient for clients,” said CBM Deputy CEO Alexey Kosyakov. “We are excited about the innovations that we are planning to bring to market in the near future and which we believe will set new standards for the credit-card business in Russia.”

United Card is a combined Visa and MasterCard credit card with additional deposit functionality and a generous interest-free period of 55 days for purchases and cash withdrawals. Card-holders pay a one-time fee of just RUB 650 (about USD 18) and 3% to withdraw cash.