Later this year MENATEP will celebrate its 10th anniversary. Founded in 1988, shortly after promulgation of the law permitting free enterprise in the USSR, MENATEP became one of the country’s first commercial banks.

Its assets exceeding 25 trillion roubles (as of January 1, 1997), MENATEP ranks with Russia’s five leading banks. In 1997 the “Banker” magazine rated MENATEP among the world’s one thousand top-notch banks and among the 25 largest banks of Central and Eastern Europe.

Today MENATEP is a large multifunctional bank, especially active in such spheres as corporate finances, the investment business, financing of foreign trade, and transactions (operations) on the financial and stock markets. The Bank’s clients include Russia’s leading production, trading and services companies, as well as the Administrations of a number of Russian regions. MENATEP also ranks with the ten foremost banks for the number of deposits made by individuals.

MENATEP is represented through its Branches and Subsidiaries in most Russian regions as well as in a number of foreign countries. Its Subsidiaries (Branches) cooperate with Regional Administrations and implement major credit-and-investment projects. A global correspondent network enables Bank clients to promptly make payments virtually in all world currencies.

MENATEP is one of Russia’s first banks to have begun operations (transactions) using plastic cards. The Bank is a member of the payments systems VISA International, Europay International and is today the leader for the number of the issued cards (VISA, Eurocard/Mastercard, Union Card) as well as for the number of the marketing and sales outlets it serves. Bank MENATEP has the highest credit rating according to such international rating agencies as Moody’s Investors, Fitch IBCA and Thomson BankWatch.

MENATEP pursues a programme of issuing the American Deposit Receipts (ADR) of Level One. At present they circulate at the US extra-stock-market exchange as well as at the Berlin and London Stock Exchanges. The Bank’s assets are on the PTC and World Bank listings.

The Bank’s official auditor is the Arthur-Andersen Company which has since 1994 been conducting audits in compliance with Russian and international standards.

The Bank’s foremost concern is investment and commecial lending. MENATEP is the first among Russian lending institutions to have set its sights on work with industry. Thanks to that, it has gained the unique experience of implementing financial projects in industry and raised a team of professionals with a profound knowledge of various industrial sectors.

An active participant in the ongoing privatization processes, MENATEP has been providing financial and consulting services to over 100 clients and organized 50 projects for company mergers and acquisitions. Today the strategy of MENATEP involves adjustment of the world experience gained by the investment and banking business to the conditions of the Russian capital market which are by no means simple.

The Bank offers its partners the services which the Russian economy needs most of all today: development of investment schemes and attraction of capital, organization of financing of projects including flotation of new stock issues and convertible bonds. In conditions of an acute shortage of investment resources, this is the most suitable way of solving production and social problems facing particular enterprises and whole regions. The Bank’s high international authority enables it to attract significant financial resources from foreign banks and investment structures.

The ROSPROM — YUKOS industrial group, uniting Russia’s large companies operating in such fields as oil production and refining, chemistry, the textile and food industries is the Bank’s strategic partner. This alliance is an effective model of a business association which will furnish strong support for Russia’s national economic advance.

Bank MENATEP works actively using all instruments of the Russian financial market and is a market-maker for most of them. In its operations it uses the traditional financial instruments as well as the more sophisticated derivatives designed above all for hedging the positions of the Russian and foreign investors on the currency and stock markets. A primary dealer working with GKO and OFZ, Bank MENATEP has been operating on the market of state debt instruments (debentures) since its establishment in 1993. Currently, the Bank operates actively with both rouble obligations and foreign currency bonds (Euro-bonds) of the RF Government and is one of Russia’s five leading operators on that market.

In 1997 a start was made on a rapid growth of a new segment of the market, regional and municipal debt instruments. MENATEP is a primary dealer handling securities of Moscow, St. Petersburg, Tatarstan, the Orenburg, Volgograd and Moscow regions... The Bank has actively been operating on the secondary market of Russian banks and industrial companies.

MENATEP conducts operations with such financial instruments as Russia’s bond and non-bond indebtedness to the London Club and the obligations of such CIS countries as the Ukraine and Moldova. The Bank is a member of the CEDEL and Euroclear systems.

Being a leading operator on the Russian stock market, MENATEP is a member of the National Association of Participants in the Stock Market; besides, the Bank is one of the market-makers of the Russian trading system and conducts transactions with blue chips as well as with stocks of less liquid companies.

MENATEP also conducts the whole gamut of transactions on the Russian currency market: switching currency operations with convertible and “moderately” convertible currencies, forward and future transactions, rouble-dollar SWAP transactions and banknote deals. The Bank ranks with the three leading operators handling the CIS currencies traded in on the Moscow Inter-Bank Currency Market: the Ukrainian grivna, the Kazakhstan tenge and the Byelorussian rouble.

MENATEP’s contracting parties on the currency markets include the leading Russian and foreign banks and finance companies, such as Bank of America, Solomon Smith Barney, ING Bank, and Societe Generale.

The Bank’s perfectly-equipped analytical centre keeps track of and forecasts the behaviour of all financial instruments.

MENATEP operations with clients are based on the principles of long-term partnership relations. Enabling corporate clients to enjoy its services under individual customized schemes, MENATEP has been striving to optimally combine their mutual economic interests. Highly professional personal managers work with “big-name” Bank clients. They supervise clients’ accounts, ensure the raising of their combined incomes and coordinate the operations of all services in the interests of their clients.

MENATEP is the first bank to have put into service an automated telemarketing system which enables the client to learn about any information concerning the Bank’s products and services by phone and or through the Internet system. The service personnel help the client quickly get in touch with competent specialists, sort out complicated financial and legal matters and find solutions to challenging problems.

The mission of the Bank as a major finance institution determines MENATEP’s responsibility to society.

In 1997 MENATEP allocated over 2 million dollars for charities. Those funds have been used to support education, culture, book publishing, restoration of architectural documents and for financing invalids’ associations and children’s organizations. Bank MENATEP was an official bank helping fund the festivities and observances in commemoration of the 850th Anniversary of Moscow.

The largest projects implemented with the Bank’s financial support include: restoration of St. Basil’s Cathedral in the Red Square and a number of architectural and historical monuments as well as the sponsorship and holding of concerts of classical music and also preparations for the celebration of the 200th birth anniversary of Alexander Pushkin, etc.