Annual report 2010
PSB’s efforts in 2011 will be directed towards its overarching goal of becoming the ‘Number 1’ privately owned bank in Russia in terms of market value by 2015. To reach this goal, PSB will need to ensure the profitability and sustainability of its business, including through diversification of its loan portfolio and revenue sources. The bank must also improve the quality of its client base and maintain capital at adequate levels. PSB will continue to solidify its brand and improve client service, management quality and staff efficiency, as well as stepping up the use of technologies and introducing innovative products. In 2011, PSB will pursue its ...view middle of the document...
In addition, PSB intends to accelerate development of its leasing operations — a business segment with strong upside potential. SME business is a key priority area offering high margins and possibilities for responsive risk management. PSB’s objective in the segment is to become by 2013 a ‘Top 3’ Russian bank by volume of SME loan portfolio. In addition, the Bank intends to move into the microfinance segment. Well-structured propositions in each of the SME sub-segments will constitute the backbone of PSB’s 2011 product offering. Product terms will be adapted to various client groups. While developing the product offering, PSB will focus on investment banking, leasing and specialty products. High quality service, partner relationships with clients, prompt credit decision-making and sales and service system efficiency underpin PSB’s positioning. In the SME segment, PSB intends to step up cross sales within the retail and private banking businesses. To spur further development of SME business, the Bank will use both traditional (branches and additional offices) and alternative (remote banking services -RBS-) and partnership programs) sales channels. Retail lending. In accordance with its strategy, PSB aims to become by 2013 a leading Russian bank by retail lending (among the ‘Top 10’), as well as a significant player in the premium retail segment. Product bundles based on best international practice, utmost client-centered focus and wide use of technology will underpin PSB’s positioning in the segment. General-purpose consumer loans and credit cards will be at the core of retail lending in 2011, while at the same time PSB intends to resume mortgage lending. Bankassurance will be at the forefront of commission-based product development. To expand the client base, improve service quality and diversify its revenue base, PSB intends to develop partnership programs (co-branding projects with retail and service companies, affinity cards issued jointly with charities and not-for-profit organizations) and broker services, as well as to aggressively promote PSB-Retail and other remote banking channels (Call Center, ATMs, etc.). PSB will specifically focus on sourcing retail deposits through remote banking channels.
Another key priority area is the development of an efficient private banking service. 2011 objectives in the segment include the development of a comprehensive standard product offering; the launch of structured investment products, including jointly with leading foreign players, and the development of non-banking products...