Private banking has traditionally been one of MBRD’s priorities.
In 2009, special attention was paid to the development of private banking, both in the regions of Bank’s operations and abroad. The Bank implemented projects aimed at increasing the quality of service provided, developing the range of products for select clients, and attracting partners that offer luxury services in the non-financial sphere.
Despite tough competition in the private banking segment, the volume of the deposit portfolio and the commission income from private banking clients’ operations in 2009 considerably exceeded the results for 2008.
In particular, the deposit portfolio of clients looked after by the specialized private banking department grew by over 2 billion rubles, or by 18.5%, in 2009 to 13.2 billion rubles as of 31.12.2009.
Commission income from these clients’ operations exceeded the planned target by 41% and reached over 17.6 million rubles.
The Bank’s branch network also continued to actively develop and increase the private banking client base, it refined procedures to service wealthy clients, and some branches created specialized departments to look after private banking clients.
MBRD group currently offers its private banking clients a wide range of banking and investment services, from settlement and cash services, asset management and support of deals with real estate, to alternative types of investment.
Opportunities offered by MBRD banking group, including servicing in one of the most respectable European jurisdictions — Luxembourg, considerably increase interest from potential clients. This is illustrated by the growth in business activity of private banking clients in 2009, who decided to use the Bank’s services both in Russia and abroad.