Actual Stability

Annual report 2010

27

2011 strategy

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 development as a universal financial institution focused on the corporate segment as the core area of operations, while at the same time significantly stepping up the share of retail and SME business. PSB also intends to actively pursue development of its investment and private banking businesses. Subject to further stabilization in the financial markets, PSB will place a stronger focus in 2011 on the promotion of mid- and long-term credit products across all client segments. In the corporate segment, PSB intends to maintain a leading (among the ‘Top 10’) position in both corporate lending and funding. Strong customer-centered focus is the key tool for attaining this objective, including the following: • the broadest possible product offering and cross sales with the investment and retail businesses; • high-quality personalized service (know client’s needs and customize products); • prompt credit decision-making and implementation. PSB will continue to further develop its factoring and international financing operations, as well as increasing sales of standard credit products, and developing mid-sized business. The bank will especially focus on commission-based products, including settlement services and cash management. In addition, PSB intends to accelerate development of its...