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A new branch set up in Voronezh

10.11.2008

On 10 November 2008 Credit Bank of Moscow’s one more out-of-Moscow branch started its operations in the City of Voronezh, having widened CBM’s regional branch network consisting of six previously opened branches in Tula, Ryazan, Vladimir, Kursk, Lipetsk and Tambov.

“The cities chosen for the establishment of new branches are not random. The Bank’s strategy is to create branch network particularly in the Central Federal District. CBM continues to follow its expansion strategy against unfavorable economic situation. We estimate the current crunch as new possibilities for our goals achievement, not as periodic difficulties thwarting our progress,” – comments Mr. Roman I. Avdeev, President of the Bank.

“According to CBM’s regional expansion strategy 1 more regional branch is to be established in the City of Tver by the end of November 2008. The new Voronezh branch offers the entire range of the Bank’s core services for private and corporate customers including lease of individual safety deposit boxes.