Moscow’s RUSS-BANK, controlled by Russian entrepreneur Danil Khachaturov, may join ranks of major retail banks. Its managers prepare rebranding and plan to open several hundred branches all over the country. The bank will lay out $100 million to develop its business, certain estimates indicate. Unofficial reports say that rebranding will begin in April in parallel to an advertising campaign. The bank is to focus on regions while developing its retail business as the Moscow city market is glutted with numerous offers. RUSS-BANK also plans to be rated among the top 10 Russian retail banks in the future. Presently, the bank has branches in 10 Russian regions and plans to open its units in further 20—25 regions this year.
Source: VEDOMOSTI, March 28, 2006
