"Rosselkhozbank's work to restructure the regional network and to reduce expenses has shown its effectiveness and must be continued," said Viktor Zubkov, now on a working visit in St. Petersburg.

"The establishment and expansion of an effective regional network combining both rural and urban branch offices will become a priority for the bank's development strategy up to 2020," the First Deputy Prime Minister added.

Rosselkhozbank Board Chairman Dmitry Patrushev briefed Viktor Zubkov on proposals to restructure the bank's regional divisions and reduce expenses.

Viktor Zubkov assessed the affiliate's work and talked to its employees and clients. He noted the affiliate's high-tech standards which provide a quality banking experience.

Viktor Zubkov also chaired a meeting on the expansion of Rosselkhozbank's regional network and the highlights of its St. Petersburg operations. The First Deputy Prime Minister pointed to the need to more actively service business in the food industry, the timber industry and the fisheries sector. "These industries show sizeable growth potential. The bank is called on to tap into this potential as much as possible. This would expand the affiliate's credit portfolio which now totals 17 billion roubles, including over one billion roubles in individual accounts," Viktor Zubkov said.

In the future, the St. Petersburg regional affiliate now comprising 15 offices in St. Petersburg and the Leningrad Region will be represented in each district of the Leningrad Region. There are also plans to increase the number of offices in St. Petersburg from two to 15-17 additional offices.