NEW YORK, and MOSCOW, April 5 /PRNewswire-FirstCall/ -- American Express
and Russian Standard Bank (RSB) today announced an agreement for RSB to
exclusively issue and market American Express Card products in Russia. These
RSB-issued cards will display the classic look of traditional American Express
Cards issued around the world and be accepted on the American Express global
merchant network.
RSB will issue the first Russian ruble-denominated American Express Cards
and can also issue US dollar-denominated American Express Cards. Financial
details of the agreement were not disclosed.
Under the terms of the agreement, RSB, which is a leading Russian consumer
lender, will be responsible for issuing the cards, managing the customer
relationships, providing customer service, billing and credit management.
"The partnership with American Express is one more step towards realizing
our strategic vision as a provider of financial services of international
quality in Russia. We believe in the development and growth of the consumer
market in our country, and we want to enhance the choices of Russian consumers
and their access to financial products and services," said Dmitry Levin, CEO
of Russian Standard Bank. "American Express is a powerful global brand, and
Russian Standard bank is delighted to be working with them to exclusively
issue these American Express products in our country."
"This partnership opens up an exciting new chapter in our Company's
presence in Russia, where we've been doing business since 1887," said Peter
Wright, Senior Vice President, Global Network Services, American Express.
"Russian Standard Bank is one of the most dynamic banks in Russia and will be
an outstanding partner to issue American Express Cards. We look forward to
working with them to cultivate this vibrant, rapidly growing market for
consumer financial products."
As part the global strategy to open its merchant network, American Express
could pursue partnerships with other banks to issue their own cards in Russia
that would be accepted on the American Express merchant network.
About American Express Global Network Services
American Express Company is a diversified worldwide travel, financial and
network services company, founded in 1850. It is a world leader in charge and
credit cards, Travelers Cheques, travel, financial planning, business
services, insurance and international banking.
American Express has been aggressively pursuing a strategy of opening its
merchant network and card product portfolio to third-party issuers around the
world. By leveraging its global infrastructure and the powerful appeal of the
American Express brand, the Company aims to gain even broader reach for its
network worldwide. American Express has established card-issuing partnership
arrangements in 100 countries.
About Russian Standard Bank
Russian Standard Bank (http://www.bank.rs.ru) was founded in 1999 and in
just five years has become the leading operator on the Russian consumer
finance market, with more than seven million loan customers, the overall
volume of which has exceeded USD 2.9 billion, and more than 2.4 million credit
cards issued. RSB has reached national coverage and has presence in more than
2000 cities in Russia.
Russian Standard Bank is a dynamically developing, independent and
reliable financial institution offering world-class services targeting a broad
customer base. With a clear business strategy focused on high-quality,
innovation and cutting-edge technologies, RSB has been able to develop a
complete set of financial products with strong appeal in the market and has
become a trusted and recognized brand in consumer credit.
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