Bank system

The Altai territory bank system is represented with 8 independent banks of Altai and 22 branches of credit companies of other regions. Independent credit organizations of Altai belong to middle size and small banks and at the same time they are safe banks with developed business. The Altai territory is attractive for credit companies from other regions. Coming of banks from other regions to Altai stimulates development of free competition, growth of investment into Altai economy, lowering of interest rates, increase of bank services and higher standards of client service. The present system of departments of credit companies makes it possible to provide the whole range of bank services for corporate persons and natural persons.

The authorized capital stock of Altai independent banks grew twice and own capital grew by 1,7. The source of capital growth was profit and additional payments of stockholders to the authorized capital. According to statistics of 2007 4 regional banks of 8 have own capital over 5 million euro.

The Altai territory administration carries out constant work in stimulation the credit process. The money provided by the Altai territory budget for paying off a part of the bank interests in the investment projects let some companies and organizations get favourable credits of 992,8 million rubles in 2005, 1,7 billion rubles in 2006. Over 100 companies expanded their production, enlarged circulating assets and got extra profit.

Mortgage lending turns into a highly developed bank service.

Mortgage lending is provided by independent banks and branches of other regions’ banks.

Solving housing problems in the rural area for young specialists is also based on credits and here the bank system is of great importance.

The issues of bank department development, raising credit investments in economy, development of mortgage lending for people and small business loans are still topical for the Altai territory.

The bank system development programme in 2007 - 2010 has been developed in the Altai territory. This programme provides availability of bank services to the Altai territory people who live in the urban and rural areas, increasing credit programmes for middle and small business, financial education of the population, development of cashless payments using bank cards.