Actuality October, 16, 2007

Growth rates of individual persons’ lending in Russia totaled 60% in 2007, reports the press-service of the Association of Russian Banks (ARB).

At the Fourth Open International Bank Conference “Money transfers.

Retail bank services” held in Yerevan, experts marked that possibilities of widening

of this kind of bank services are not exhausted.

The consumer lending is like a locomotive, “draws out” other retail structures.

At the s ame time, there is

a high dem

and for money transfers.

This service will “infinitely widen”, as citizens are interested in the resources’ transfer through the systems with minimum commissions.

Now in Russia operate more than 15 money transfer systems without bank accounts open

ing. The volume of transfers through these systems in 2006 made up $ 7,3 billions. Annual growth from 2003 totals 150-160%. So high rates are maintained mainly due to transfers from the country.