12 Apr 2005 11:59

Alexander Murychev and John Saundersdiscussed cooperation prospects in connection with the Russian law "On Credit Histories"

Russian Regional Banks Association President Alexander Murychev and Experian International Chief Executive Officer John Saunders at a meeting on April 12 discussed cooperation prospects in connection with the Russian law "On Credit Histories," which is due to come into force soon.

Experian-Interfax Credit Bureau, a Russian credit history bureau that was set up in 2004, in which Experian International and Interfax Group hold equal shares, has joined the Russian Regional Banks Association.
Experian International plans to build contacts with the association‘s member banks and with others, including regional credit history bureaus. The bureau will take the shared interests of the banking community into account in its work and will inform association members on its activities.
The date when the law comes into force leaves banks little time to make deals with the credit history bureaus that are being set up in Russia, said Russian Regional Banks Association President Alexander Murychev.
"Experian, which has already set up credit bureaus in many countries, is well known for its modern technological solutions and its high standard of service. Its partnership with Interfax, the leading Russian information structure, will undoubtedly contribute to the successful work of the new credit history bureaus," Murychev said.
"The Russian Regional Banks Association is known for its active and interested position in dealing with the most important issues facing the banking community," said Mikhail Komissar, Chairman of the Board of Directors of Interfax Group, who was present at the meeting. "The creation in Russia of an effective system of credit bureaus is an extremely important condition for more extensive retail banking, and we intend to actively cooperate in this field with the association and its members, and with credit bureaus set up in the provinces."

*** The Russian Regional Banks Association was set up in 1990 and brings together 315 banks whose total capital comprises 42.2% of the total capital in the Russian banking sector.

***The Experian-Interfax Credit Bureau was established in October 2004. Interfax Group, the leader on the Russian news market, and Experian, which has credit bureaus in 11 countries, including the United States and Great Britain, hold equal stakes in it. The purpose of the bureau is to find out for creditors whether borrowers are in a position to repay their debts on time and to protect both creditors and borrowers from credit risks.

***Experian is a world leader in the credit history business and has customers in more than 60 countries. It is headquartered in Nottingham in the UK and Costa Mesa, California.