Enterprise Clearing Centre — has been implemented in LenSpetsSMU


Bank Saint Petersburg has launched an "Enterprise Clearing Centre (ECC)", a new banking service for fifty Etalon Group companies including CJSC SSMO LenSpetsSMU.

ECC is a set of individually customized services for centralized corporate finance management of any companies, however complex their organisation and geographical structure is. CJSC SSMO LenSpetsSMU was the first Bank client to sign the agreement on ECC employment. The ECC system was designed by LLC "BCC" for the Bank.

First Deputy Chairman of the Bank's Management Board Vladislav Guz stressed: "With launching ECC the Bank has made yet another step towards meeting the customers' needs. ECC is a high-demand market product, ECC employment certainly improves financial management system, and consequently increases business efficiency altogether. ECC service will undoubtedly attract new clients who demand high-quality service and want to build a strong partnership with a modern reliable bank."

General Director of Managing company - Construction holding "Etalon-LenSpetsSMU" (ZAO) Anton Evdokimov stated: "ECC allows us to manage and control corporate cash flows. We have managed to incorporate the budget control and Treasury automation facilities that were formerly employed in the holding with the ECC service offered by the Bank. This has increased the general safety and operational efficiency. Additionally, we have seen an efficiency increase in liquidity and cash balances management. Return on idle funds placed on deposits has significantly grown as well."

This agreement is another step in the ongoing long-term cooperation between Bank Saint Petersburg and LenSpetsSMU. Since 2004 LenSpetsSMU has taken out 15 loans from the Bank with a total value of more than RUR 5.7 billion. At the moment Bank Saint Petersburg" and LenSpetsSMU involving a German bank Landesbank Berlin AG and a Polish construction company Budostal-3 Export Sp. Z o.o are implementing a project on international financing of dwelling houses construction.


Bank Saint Petersburg is the largest private bank in the Northwest region of Russia. Founded in 1990, over the years the bank has become an integral part of the financial and economic spheres of North-West Russia. Today Bank Saint Petersburg serves over 1.2 mn individuals and 37 thousand companies through 38 offices and branches in; the St. Petersburg and Leningrad region, Moscow, Kaliningrad, and Nizhniy Novgorod. According to the results of 1H 2012, Bank Saint Petersburg holds 15th place in terms of assets value among Russian banks (according to “Interfax” agency). The bank has rating from international rating agency, Moody’s of “Ba3”.

Etalon Group,withCJSCSSMO LenSpetsSMU as part of it, is one of Russia’s largest and oldest homebuilders and has been operating in the sector since 1987. Between 2000 and 2010, The Group averaged an 11% annual market share in all residential completions in Saint Peterburg’s private sector (excluding individual construction).

Etalon’s project portfolio includes large-scale housing solutions targeted to the upper economy class and lower middle class segments. As of June 30, 2012, Group revenue stood at 397 mn USD, with EBITDA reaching 105 mn USD.


Kseniya Savchuk

Acting head of Public Relations

+7 (812) 348-21-25


Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95