Worldwide

Number of cards issued by Bank of Moscow exceeded 10 million

September 05, 2008
Payment cards issued by Bank of Moscow have increased in number to over 10 million. Since the beginning of the year, the cards issued increased in number by 17.6% and there has been a recognizable positive tendency with both credit and debit cards.

‘This is primarily due to the development of projects relating to the income payment over the Bank and to the Bank’s special offers’, Alla Tsytovich said. In the period April 1 to the end of June 2008, the Bank had a successful campaign titled ‘Discovery Time’ during which the customers could be extended loans at only 11% annual interest rate for loans indexed in foreign currency or 17% for loans indexed in rubles.

Bank of Moscow is one of major participants in the segment of issuing bank payment cards on Russian banking market, its market share being as high as 8.2% at the beginning of year 2008. According to the data provided by the Central Bank, January 2008 inclusive, total number of cards issued in Russia amounted to 103.5 million, 8.6 million out of that number being issued by Bank of Moscow.

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