Makhachkala, January 20, 2012. Today, January20, the Head of the Republic of Dagestan Magomedsalam Magomedov has met with the Chairman of the North Caucasian Bank of Sberbank of Russia Peter Koltypin.

In the greeting speech Magomedov noted that the republic's population continues trusting on Sberbank. The bank is the recognized leader to attract deposits. The Head of the republic wished the bank increased its involvement in crediting the economy of Dagestan.

 "I believe that the Savings Bank plays an important role in the development of regional economy, but this is not enough. Savings Bank should be represented in the republic much more widely and powerfully. To date, the volume of the Savings Bank in crediting the economy of Dagestan is not sufficient. Deposit taking is pretty good. Almost 12 billion of deposits belong to the residents of Dagestan. This is a good indicator".

In addition, the Head of Dagestan asked the leadership of the Savings Bank to expand the network of branches in the Republic, for the number of units – in total 23 is not sufficient to cover the three million population of the republic.

In reply, Peter Koltypin thanked the Republic for the warm welcome and hospitality. The bank high ranked official agreed with all comments and suggestions. "We really see the flaws that we need to be addressed. Being, in fact, something like a driver for the regional economy, we need to be more active as investor. We intend to continually expand the availability of our products and services. The Savings Bank launches a huge number of new products, new technologies. We make our branch network more attractive and comfortable for customers. Our task is to expand our branch network to access the population".

As for the terms of investment projects, financial support of enterprises and legal entities, P. Koltypin agreed that Sberbank should expand its presence in the republic. "I think that small business is still the main driver, along with large projects. Small business is the driver of economy. The number of small and medium scale enterprises in the republic makes more than 90%. Today we are launching a vast number of specific products for the small and micro businesses. They are finished customized products, where customers can immediately come in and get what they need. In addition, we launched a classy product “Trust” - Koltypin told.