2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Commercial organization Bank "Ural Ring" was founded in 1989 and is one of the very first in the country. Her license number for the right to operate consists of only two digits - 65, which says a lot to professionals in this field. There are currently no more than twenty financial institutions with a two-digit number, and all of them are very respected in the credit market.
Initially, the Ring of the Urals bank was called quite differently: Kub-Bank LLP. Today, this name is remembered by almost all the financiers of the country, as he not only became one of the very first commercial credit organizations in the country, but also quickly began to pose a threat to such state institutions. Already in the first 18 months of its activity, the bank showed a very rapid pace of development, having increased its capital by more than 5 times. Over the past years, he has become a real giant, standing on his own feet so firmly that the international financial crisis not only failed to undermine his well-being, but also gave a strong impetus tofurther development.
Development of the organization in the nineties
In 1998, the bank was reborn and accepted many new members into its ranks. It was then that he changed his name to the "Ring of the Urals". The organization again made a powerful breakthrough in development: in 1999 alone, it increased its income several times. In addition, the change of some participants brought a fresh concept, according to which this credit institution began to develop. The new composition of the bank's co-owners included a powerful management team, which headed for the development of the bank's tools and expansion of the customer base.
Most of the plans set by the new leadership, although they seemed overly ambitious for the distant 1999, have already been implemented today. It is thanks to this that Koltso Urala Bank is currently one of the five leading financial organizations in the region. Today, its databases list millions of customers, both savers and borrowers.
How banking services improved
2005 was another turning point for the organization. It was at this time that Koltso Urala Bank began issuing and introducing its own credit and deposit cards. In addition, deposit programs for private investors and services for legal entities have been significantly improved. At the same time, the financial organization introduced its own banking system, which operates in automatic mode. Since that time, it has become a licensed member of various international payment systems, such as Visa orMasterCard.
Despite the crisis of 2008-2009, which destroyed a huge number of financial institutions, the Ring of the Urals bank, which today can get a loan for any resident of the region, confidently coped with the task of overcoming it. The work did not stop even for a minute. The bank accepted deposits and issued loans as usual, and all its depositors did not lose a penny. Even in the most difficult moments for the entire Russian economy, he remained a kind of beacon that did not allow people's faith in the banking system to fade completely.
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