As part of development of the regional retail network, ALFA BANK has opened 100 credit-and-cash offices. The new retail branches operate in 43 cities of Russia. ALFA BANK’s large-scale campaign in developing the regional retail network began in August 2005, when the first office in Krasnodar opened. Over two years, ALFA BANK’s regional client’s base grew by 80% to 1.8 million. Balances on accounts of regional clients totalled $1.3 billion. «By 2006, the bulk of business was transacted in Moscow, but the regional expansion caused a shift towards regions. In terms of profitability, Moscow is still ahead of regions, but that gap is being narrowed. We will continue actively developing the retail business in regions. In the future, we plan to open at least 16 branches and raise the client’s base by half a million men. I think that after 1.5—2 years, the share of regions in the overall revenue of our retail block will equal 65—70%," said Alexei Marei, head of ALFA BANK’s Retail Business block. The main advantage of the bank’s offices is that their clients become clients of ALFA BANK as a whole and not of one branch.
Source: WWW.NOVECON.RU, October 19, 2007
