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| Priorbank’s Activity Results for the Year 2009
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On March 12th, 2010 regular meeting of stockholders of Priorbank JSC took place, where activity results of 2009 were totaled and main courses for 2010 were determined.
Development strategy in accounting period was aimed to support an acceptable level of credit portfolio quality, optimize transaction costs, save and improve bank’s liquidity and increase offered services’ quality.
Considering the Bank’s equity capital as the basis of reliable and safe functioning, Priorbank has increased its capital to 782 billion BYR or by 22%. The increase was fully provided by internal sources.
To support bank’s clients crediting was actively continued. As of January1st, 2010 credit portfolio accounted 3,641 billion BYR.
In tough economic environment the Bank has sustained the volume of corporate business equal to 2,6 trillion BYR and controlled its reduction in comparison with level of 2008.
Comprehensive support of small and medium-sized enterprises (SME) was provided in 2009. 4 878 new clients were attracted. As a result, clients data has increased by 17,2%.
PI business has actively developed. Deposits to private individuals increased by 416 billion BYR or by 56%. The Bank market share in this segment grew from 5,6% to 6,3%. One of the main priorities of 2009 was to develop service for the retired. A new product has been launched – card account “Pensionary”, which is quick, convenient and favorable way to receive pension. During this year The Bank opened more than 26,000 accounts for retirees.
In 2009 a significant work to optimize and standardize active banking services centers was held. The Bank’s call-center widened its services. An electronic payment system “Client-bank” was being developed and mobile banking network was optimized. A lot of work was involved in Internet-banking development and a new user-friendly electronic payment systems of SMS- and USSD-banking.
The profit in 2009 amounted to 171 billion BYR. ROE is 25%.
In 2010 the main priorities for the Bank are to raise bank’s financial stability and solidity, to develop comprehensive cooperation with clients, to realize decreasing policy of transaction costs, to optimize business process, to increase banking services and their availability for clients.
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Priorbank JSC is a member of RZB Group and a subsidiary of the Austrian banking holding Raiffeisen International Bank-Holding AG. Prirobank, JSC was founded on 20 January, 1989. The major shareholder of the bank is Raiffeisen International (87.74%).
«Euromoney» magazine – one of the world’s leading monthly publications for the global banking, finance and capital markets – awarded Priorbank the "Best Bank in Belarus" in 2005, 2007 and 2009. In 2003, 2004, 2005 and 2009 according to «The Banker» magazine Priorbank became The Bank of the Year in Belarus. "Awards for Excellence" recognize the best-performing financial institutions in every significant financial market and product sector, as well as the leading banks in well over 100 countries.
Public Relations
Priorbank, JSC
Tel. +375 17 289 92 95
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