KARACHI - Yuri Yu. Petrushchik, Head of Financial Institutions and International Business Division, Member of the Executive Board of OJSC Smolensky Bank of Russian stated that the OJSC Smolensky Bank is endeavouring to start operations in Pakistan.

He expressed gratitude to Mohammad Haroon Agar President of  Karachi Chamber of Commerce and Industries for providing an opportunity to apprise about OJSC Smolensky Bank of Russia.

In this connection he was on a visit to Pakistan to meet important persons from trade, industry and other sectors.

He stated that ever since its establishment in 1995, and Banking Group in 2006, the Smolensky Bank was dynamically expanding its business in Russia.

The banks hold a fast developing structure which shows high results in the basic indices. The bank aims to further enhance its business and also enjoys global partnership with various banks around the globe.  KCCI’s President stated that during the years, growth and turnaround in Pakistan’s banking sector has been remarkable and unprecedented, the profitability of Banks has risen to an exceptional level, credit is fairly diversified and bank-wide system risks are well-contained.

He articulated that the Banking and Financial Institutions in Pakistan witnessed a productive growth and many leading international banks started their business in Pakistan. The Banks are also offering consumer-oriented products and financing schemes. The banking system in Pakistan become almost automated with the facilities of e-banking, SMS banking, mobile banking and other electronic services.

He said that if any bank from Russian will start its operations in Pakistan it will not only facilitate the domestic consumers but it would also help in boosting the bilateral trade between Russia and Pakistan due to establishment of direct banking channel.