In a modest ceremony and in the presence of a few selected guests, customers and friends of CB HELLENIC BANK LLC Group, the opening of the Group’s Subsidiary Bank took place as well the inauguration of its own premises of operations.
The inauguration ceremony was conducted by Mr. Petr Kuprikov, Deputy Head of Foreign Affairs of the Russian Federation and Vice President of the Greece and Cyprus Friendship Association, in the presence of His Holiness Georgios, Bishop of Paphos, and His Holiness Athanasios, Bishop of Cyrene.
Mr. Giannis Telonis, General Manager in Russia, having expressed his warm welcome to all guests from Russia and Cyprus, referred to the significance of the event.
After the blessing ceremony by the two Bishops present, Dr. Andreas Panagiotou, Chairman of the Group’s Board of Directors took the floor and began his speech by expressing his joy and excitement for being present in Moscow for the inauguration of CB HELLENIC BANK LLC subsidiary Bank.
After thanking Mr. Kuprikov for accepting the invitation to conduct the inauguration, he referred to Hellenic Group and the factors that contributed to the decision for the expansion of its operations in Russia.
Dr. Panayiotou stated “For Cyprus and the Cypriot people Russia is their own place, a place they love. For Russia Cyprus is a second mother-country that instills trust, respect and interest.”
Analyzing briefly the factors that prompted the Bank to proceed with the establishment of full banking operations in the Russian capital, Dr. Panayiotou concluded by mentioning that the selection of a fully operational expansion in Moscow is a landmark decision for Hellenic Bank Group and for its further development and was taken on the solid basis of the need to be close to the Russian people and the Greek Cypriots, wherever they are, as well as serving the needs of Russian and Cypriot entrepreneurs operating in both countries”.
In his own address, Mr. Makis Keravnos, the Group’s Chief Executive Officer, praised the excellent relations between Cyprus and Russia, stressing that the expansion of Hellenic Bank in Russia with the establishment of the Bank’s subsidiary is the addition of one more building stone to the large and solid edifice of friendship and mutual respect between Russia and Cyprus.
"As the friendship between Russia and Cyprus is warm and has lasted for many years", Mr. Keravnos characteristically said, "so is the relationship of Hellenic Bank Group with Russia, the Russian economy and the Russian business world, which has been close for the last 13 years."
Thereafter Mr. Keravnos referred to the Bank's presence in Russia with two Representative Offices in the Russian Federation, one in Moscow and one in St. Petersburg, and to the simultaneous growth of the International Business Department of the Group, by attracting a large number of Russian companies, thus contributing to the effort for economic growth of both countries and to mutual benefit of both peoples.
While referring to the financial advantages offered by Cyprus, Mr. Keravnos pointed out that since 2004 the Republic of Cyprus is a full member of the European Union and a member of the Eurozone since 2008. “I am delighted that as Minister of Financial Affairs during that period, I feel that I have contributed in achieving these two important objectives for my country”.
"Nowadays, Cyprus has emerged as a major Business and Financial centre, which serves as a basis for many Russian entrepreneurs for the growth of investment activities not only in Russia and Cyprus but also in the European Union and worldwide”, said Mr. Keravnos.
Referring to the Russian economy, Mr. Keravnos pointed out that Russia has entered a period of economic recovery, in a positive state of mind and optimism for the future. Russian economic indicators show an ever increasing rate of consumer demand and investment activity. The dynamism of Russian business and the economy of the country is reflected through remarkable growth rates in conditions of global economic recession. In 2010 the rate of growth of the Russian economy was 3.7%, while this year it is expected to be even higher and reach 4.2%, whereas estimates indicate that the GDP shall reach 5.2%.
Referring to the operations of the Subsidiary Bank, Mr. Keravnos stressed that its main mission is to serve existing as well as new Russian customers and to offer services to Cypriot and Greek enterprises and organizations aiming to start new business ventures or are already trading in Russia.
In conclusion, Mr. Keravnos thanked the Russian competent authorities and Central Bank in particular, for its cooperation in approving our license as well as the managerial and other personnel in Moscow and Cyprus who worked indefatigably under difficult conditions to implement an arduous task.
In his own address, Mr. Glafkos Mavros, the Group’s Executive Director and General Manager responsible for the expansion in Russia, referred to the long-term planning regarding the implementation of the Group’s expansion in Russia and the faith that Hellenic Bank has towards the long term prospects of the Russian market.
He noted that 13 years ago, in August, in the midst of the deep economic crisis of 1998, Hellenic Bank took the decision to operate its first Representative Office during difficult, uncertain and unpredictable times.
"Hellenic Bank, however, showing respect, faith, conviction and confidence for the future, created the R.O. on a solid foundation for the realization of its long-term programme", added Mr. Mavros.
In conclusion, Mr. Mavros expressed his own thanks to the officials of the Central Bank of Russia for the enormous assistance and guidance they provided during the evaluation process for granting an operational licence.
In his brief address, Mr. Kuprikov referred to the close ties of friendship between Cyprus and Russia and praised the Bank’s long-term presence in Moscow as well as the decision for further expansion in Russia that was taken during difficult and challenging economic times.
The inauguration ceremony was conducted by Mr. Petr Kuprikov, Deputy Head of Foreign Affairs of the Russian Federation and Vice President of the Greece and Cyprus Friendship Association, in the presence of His Holiness Georgios, Bishop of Paphos, and His Holiness Athanasios, Bishop of Cyrene.
Mr. Giannis Telonis, General Manager in Russia, having expressed his warm welcome to all guests from Russia and Cyprus, referred to the significance of the event.
After the blessing ceremony by the two Bishops present, Dr. Andreas Panagiotou, Chairman of the Group’s Board of Directors took the floor and began his speech by expressing his joy and excitement for being present in Moscow for the inauguration of CB HELLENIC BANK LLC subsidiary Bank.
After thanking Mr. Kuprikov for accepting the invitation to conduct the inauguration, he referred to Hellenic Group and the factors that contributed to the decision for the expansion of its operations in Russia.
Dr. Panayiotou stated “For Cyprus and the Cypriot people Russia is their own place, a place they love. For Russia Cyprus is a second mother-country that instills trust, respect and interest.”
Analyzing briefly the factors that prompted the Bank to proceed with the establishment of full banking operations in the Russian capital, Dr. Panayiotou concluded by mentioning that the selection of a fully operational expansion in Moscow is a landmark decision for Hellenic Bank Group and for its further development and was taken on the solid basis of the need to be close to the Russian people and the Greek Cypriots, wherever they are, as well as serving the needs of Russian and Cypriot entrepreneurs operating in both countries”.
In his own address, Mr. Makis Keravnos, the Group’s Chief Executive Officer, praised the excellent relations between Cyprus and Russia, stressing that the expansion of Hellenic Bank in Russia with the establishment of the Bank’s subsidiary is the addition of one more building stone to the large and solid edifice of friendship and mutual respect between Russia and Cyprus.
"As the friendship between Russia and Cyprus is warm and has lasted for many years", Mr. Keravnos characteristically said, "so is the relationship of Hellenic Bank Group with Russia, the Russian economy and the Russian business world, which has been close for the last 13 years."
Thereafter Mr. Keravnos referred to the Bank's presence in Russia with two Representative Offices in the Russian Federation, one in Moscow and one in St. Petersburg, and to the simultaneous growth of the International Business Department of the Group, by attracting a large number of Russian companies, thus contributing to the effort for economic growth of both countries and to mutual benefit of both peoples.
While referring to the financial advantages offered by Cyprus, Mr. Keravnos pointed out that since 2004 the Republic of Cyprus is a full member of the European Union and a member of the Eurozone since 2008. “I am delighted that as Minister of Financial Affairs during that period, I feel that I have contributed in achieving these two important objectives for my country”.
"Nowadays, Cyprus has emerged as a major Business and Financial centre, which serves as a basis for many Russian entrepreneurs for the growth of investment activities not only in Russia and Cyprus but also in the European Union and worldwide”, said Mr. Keravnos.
Referring to the Russian economy, Mr. Keravnos pointed out that Russia has entered a period of economic recovery, in a positive state of mind and optimism for the future. Russian economic indicators show an ever increasing rate of consumer demand and investment activity. The dynamism of Russian business and the economy of the country is reflected through remarkable growth rates in conditions of global economic recession. In 2010 the rate of growth of the Russian economy was 3.7%, while this year it is expected to be even higher and reach 4.2%, whereas estimates indicate that the GDP shall reach 5.2%.
Referring to the operations of the Subsidiary Bank, Mr. Keravnos stressed that its main mission is to serve existing as well as new Russian customers and to offer services to Cypriot and Greek enterprises and organizations aiming to start new business ventures or are already trading in Russia.
In conclusion, Mr. Keravnos thanked the Russian competent authorities and Central Bank in particular, for its cooperation in approving our license as well as the managerial and other personnel in Moscow and Cyprus who worked indefatigably under difficult conditions to implement an arduous task.
In his own address, Mr. Glafkos Mavros, the Group’s Executive Director and General Manager responsible for the expansion in Russia, referred to the long-term planning regarding the implementation of the Group’s expansion in Russia and the faith that Hellenic Bank has towards the long term prospects of the Russian market.
He noted that 13 years ago, in August, in the midst of the deep economic crisis of 1998, Hellenic Bank took the decision to operate its first Representative Office during difficult, uncertain and unpredictable times.
"Hellenic Bank, however, showing respect, faith, conviction and confidence for the future, created the R.O. on a solid foundation for the realization of its long-term programme", added Mr. Mavros.
In conclusion, Mr. Mavros expressed his own thanks to the officials of the Central Bank of Russia for the enormous assistance and guidance they provided during the evaluation process for granting an operational licence.
In his brief address, Mr. Kuprikov referred to the close ties of friendship between Cyprus and Russia and praised the Bank’s long-term presence in Moscow as well as the decision for further expansion in Russia that was taken during difficult and challenging economic times.
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