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Thursday, September 21, 2017

Russian Privat among top 10 in country's credit card market

Russian Privat, part of the international Privat banking group, was among the top 10 Russian banks in the credit card market in the first half of 2013, according to new ratings by RBK Ranking.

Russian Privat is in eighth place, serving more than 1.6 million active credit card holders during the first six months of the year.

The number of customers who used credit limits on the "Universal" cards increased by 40 percent to 1,020,000 people, while the total amount of credit limits available to cardholders reached approximately $1 billion.

"The credit limits on Privatbank's cards are much easier and more profitable for customers than consumer credit or loans in cash, especially because loans can be used for up to 55 days free of charge," Dmitry Barbaianov, the chairman of the board of Russian Privat, said.

Privat serves more than 22 million corporate and retail customers in 12 countries, including Russia, Georgia, Latvia, Italy, Portugal, China, Britain, Cyprus, Germany, Spain and Kazakhstan. It is the largest bank in Central and Eastern Europe, with assets of $1.6 billion and a deposit portfolio of $1.14 billion.