Russia’s Federal Financial Monitoring Service has decided to add Uniastrum Bank to the list of credit institutions permitted to include pension and military home savings among their deposit components, effective January 1, 2010.
FFMS compiles its list on the basis of data received from the Central Bank of the Russian Federation. In order for a bank to be listed, it must be categorized as a financially stable lending institution as defined by the Bank of Russia’s statutory acts. As of year-start 2010, the list includes 57 banks.
Gaining a listing will enable Uniastrum Bank to work successfully with organizations authorized to invest funds of this type, including the Pension Fund of the Russian Federation, Vnesheconombank, and other private pension funds, as well as military home savings.
“Management companies regularly hold auctions for depositing pension savings with credit institutions,” says Igor Apostolov, Director of Uniastrum’s Department for Cooperation with Government Agencies. “Our Bank is looking to conclude agreements with a number of management companies with a view to taking part in these auctions. It is our hope that this will enable us to attract resources at market or even better prices.”
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com