Network development
As at 31 December 2006, the Bank had a presence in 11 regions, with a branch network extending to Moscow, the Moscow region, Saint Petersburg, Ufa, Omsk, Cheliabinsk, Kazan, Samara, Tyumen, Yekaterinburg and Perm. The Bank provides services through 38 branches of which four are full-service branches located in Moscow, St. Petersburg, Omsk and Ufa, 22 are sub-branches and 12 are micro/credit offices spread across nine regions. The head office of the Bank is located in Moscow.
The Bank’s current branch network consists of different office formats ranging from full service branches to mini-offices. The formats comprise:
- Full service branches typically consist of 70-80 employees and occupy 500 – 800 sq. m. Full service branches have direct correspondent accounts with the CBR and can provide all types of services for corporate and retail clients together with credit risk assessment within the existing limits established by the head office.
- Sub-branches typically consist of 13-54 employees and occupy 70 – 300 sq. m. Sub- branches can provide all types of services for corporate and retail clients together with credit risk assessment of retail clients within the existing limits established by the head office.
- Micro-offices typically consist of 7-19 employees and occupy 30 – 120 sq. m. Micro-offices may sell credit products and provide consulting services to retail clients, provide deposit taking operations and money transfers, including currency exchange. The scope of services depends on the mini-office format.
As part of Absolut Bank’s strategy to expand its customer base to include small businesses and individuals operating in various regions across the Russian Federation, Absolut Bank is expanding its network of regional branches and additional offices. All of the Bank’s offices are open from 9 a.m. to 9. p.m. six days per week. One of the Bank’s regional strategic priorities is to implement uniform service quality standards throughout the country and to expand service hours to encompass a 24 hours-a-day 7-days-a-week service approach.
It is planned to extend the branch network up to 100 offices located in most developed Russian regions with the biggest economic growth and investment potential.
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