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           <h1>Bank cards</h1>
 
<table class="tbimg" align="right" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 10px; border-collapse: collapse; "> 
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    <tr><td> 
        <h4>Number of payroll projects</h4>       
        <p><img src="/img/grafiki_en/28.png" border="0"  /></p>
       
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<p>The key factors affecting the market for bank cards in 2011 remained competitive pressure from state-owned banks and ongoing instability in the financial sector. Given these circumstances, the Bank concentrated its efforts on increasing cooperation with existing clients by providing universal and quality service. The main drivers of Bank Vozrozhdenie’s card business last year were a rise in the number of customers, more cross-selling and the development of self-service technology.</p>
<p>Meanwhile, greater competition and vast market potential attracted many new players offering their own payroll programs in Moscow Region. Often lacking developed infrastructure, these banks relied on low tariffs in trying to win new customers. Compared with this, the Bank’s payroll program is convenient, supported by an extensive ATM network, and remains very popular in the market. In 2011, the Bank increased the number of payroll projects to 13,000.</p>
<p>Despite the more intense competition, Bank Vozrozhdenie’s card issuance continued to rise. Last year, the Bank opened 204,000 new accounts, while the number of its cards in circulation reached 1.3 million, strengthening its position among the ten largest Russian banks1 in this respect. Alongside an increase in cards within payroll programs, the positive trend has been driven by customers “off the street”, drawn by the Bank’s convenience and infrastructure. The share of active cards in the total issued remains one of the highest in the market at 73%, reflecting customer loyalty and quality service.</p>
<p>In 2011, the volume of sales using the Bank’s credit cards increased by 54%. Customers used them primarily for non-cash payments for goods and services involving the Bank’s credit facilities. Today, the Bank’s credit cards serve as a tool for reinforcing customer loyalty, and their active use in non-cash transactions is an important source of non-interest income.</p>

<p>A landmark event in 2011 was the transition from the “Your Account 24/7” service to the “Vbank with You” service, which helped to transform the Bank’s information service into a remote service channel. Since September 2011, customers have been able to conduct numerous transactions online: pay for mobile communications and utilities, open deposits, etc. Tens of thousands of clients have recognized the convenience, simplicity and safety of the new system. Last year, the number of customers connected to the remote service climbed by 41% to over 670,000.</p>
<div class="gray_block">IN 2011, NON-INTEREST INCOME FROM THE BANK-CARD BUSINESS ROSE BY 14.6%, CLOSE TO PRE-CRISIS LEVELS.</div>
<p>The launch of “Vbank with You” created new opportunities for making deposits via ATM. To highlight the new characteristics of the product – namely, the ability to open deposits via the internet and mobile phone – the Bank gave the deposit a new name, “Momentary”. By the end of 2011, the average size of deposit stood at RUB 172,000.</p>
<p>Amid the active development of remote customer service via the internet and mobile phones, the Bank continued to expand its ATM network as a key competitive advantage in the market. On 1 January 2012, it had 785 ATMs, including 155 offering a cash-in service. Most of the new machines were installed in Moscow Region, where the Bank has expanded its presence from 143 to 160 locations over the past two years. Thanks to the continuous development of services available, in 2011, over a quarter of the three million transactions conducted at ATMs were not cash withdrawals.</p>
<p>In response to the soaring public interest in cashless settlements in 2011, the Bank continued to expand cooperation with retail and service companies. </p>

 
<table class="tbimg" width="100%" style="border-collapse: collapse; "> 
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        <h4>Number of ATM machines</h4>       
        <p><img src="/img/grafiki_en/27.png" border="0"  /></p>       
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<p>In 2011, its acquiring network increased by 945 units (34%) to 3,755 points of sale. Meanwhile, the volume of the Bank’s card transactions on the network increased by 40% to over RUB 11 billion in absolute terms.</p>
<p>In 2011, the Bank conducted a series of marketing activities in Moscow Region aimed at promoting a culture of paying for goods and services using bank cards. One of them was the Visa Fair held in Noginsk. The campaign implied giving holders of Bank Vozrozhdenie Visa cards a discount when paying for purchases at numerous stores, and the payment system compensates merchants for the difference in cost. In practice, this was the first Visa marketing campaign with a budget that was spent not on advertising, but on reimbursing of the difference in value of goods. As a result of it, the number of customers using cards to pay for goods and services increased by 35%.</p>
<p>In 2012, the Bank’s priorities are maintaining the growth of the client base, increasing the cross-selling of fee-based products and services, and boosting the number of self-service transactions through the system “Vbank with You”.</p>
<p>Alongside this, the Bank intends to maintain the rate of debit card issuance at the 2011 level, as well as increase the issuance of credit cards. It is also preparing to launch contactless payment cards for payment, as well as online payment for goods and services using the 3D-Secure system.</p>

 
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