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Tatarstan’s bank expanding into Russia’s regions

5 Sep '07
Tatarstan’s bank Tatfondbank, being the second largest bank in Tatarstan and Povolzhie, plans to open branches in other Russian regions including the Sverdlovsk region, the bank's press office reports.

A Tatfondbank's spokesperson says opening of more offices in Moscow and of regional branches in Ekaterinburg, Krasnodar, Samara, Nizhny Novgorod and Saint Petersburg is the bank's main goal at the moment. The bank is to open its new branches by the end of 2007.

“Our strategic goal is to become a full-service bank of the federal level,” Chairman of the bank says. “As a part of this strategy we have already undertaken a number of important steps such as increasing the authorized capital, updating and modifying the range of products provided to private clients.”

Tatfondbank's Chairman also announced about bank's intention to expand into Russia’s regions. “Today our company operates beyond the local market,” Chairman said. “Rating made on the performance basis of the banking sector in the first quarter of 2007, our bank ranks 56th among the largest Russia’s banks and 10th among regional banks.”

Specialists foresee rapid development of the bank’s regional branches resulting in the company’s rebranding. Currently Tatfondbank has ten regional branches, 58 offices and ten cash desks.
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