Every opportunity for successful business development.

Chairman of the Central Bank of Russia V. Gerashchenko presented a license for conducting bank operations to Michinoku Bank (Moscow). Michinoku Bank is the first 100% Japanese bank to open a branch in Russia; the branch was established as a joint-stock company . According to the PR department of the Bank of Russia the license was presented in the course of the meeting between Mr. Gerashchenko and the delegation of Michinoku Bank Ltd (Japan), headed by the president of the bank Mr. K. Masuta. The meeting took place on Monday in the Central Bank of Russia. Opening of the Japanese bank branch in Moscow ensues active development of economic relations between Northern prefectures of Japan and neighbor Russian regions, such as Sakhalin and the Far East. Mr. Gerashchenko stressed that this is the first Japanese bank to open a branch in Russia, and therefore no other Japanese bank will be able to compete. "I am positive that Michinoku Bank Ltd. and its daughter company have every opportunity for successful business development," said the head of Bank of Russia. The main activities of Michinoku Bank (Moscow) will include: banking services, trade financing, project financing, crediting Russian clients, etc.