The financial sector is developing, which naturally creates the need for a universal commercial bank. MFK’s exclusive offering is no longer able to respond to the massive demand for quality financial services.
To respond to the growing demand, the United Export-Import Bank – UNEXIM Bank – files for registration with the Central Bank of Russia and receives approval on April 20. The new bank’s clients and shareholders include over 30 large entities involved in foreign trade, with aggregate turnover exceeding $10 billion per year. The Bank is headed by Vladimir Potanin as President and Mikhail Prohorov as Chairman of the Board. UNEXIM is a private bank competing with the state-owned banks to provide banking services to the largest companies in the country. It is effectively helping break the government monopoly on banking services. In Vladimir Potanin’s words, UNEXIM bank is “the first private bank that thinks like a state”.
To broaden its presence on the financial services market, Interros founds one of the first insurance companies, SK Interros-Soglasie, as well as the first non-state pension fund Interros-Dostoinstvo, which is granted the country’s first license issued to a private pension fund .