On the 30th of March, 2005, a stockholders' meeting was held establishing an open joint stock company named 'National Credit History Bureau' (NCHB JSC).
Among the stockholders are the Association of Russian banks, Vneshtorgbank 'AK BARS' Bank, Alfa-Bank, ZENIT Bank, Bank Petrocommerce, Gazprombank, DeltaBank, 'National Bureau of Credit Information' Partnership, THE FIRST CZECH AND RUSSIAN BANK, ROSBANK, Citibank, Uniastrum Bank, Impexbank, CRIF S.p.a. (Italy), and Trans Union International, Inc. (the USA).
The National Credit History Bureau is designed to become and important ingredient of the banking market infrastructure and to facilitate the development of consumer lending market. Presently the NCHB can serve as a good springboard to creating a system of credit histories which will be efficiently managed and allow to minimize credit risks and borrowing costs, as well as to enhance extending loans to Russia's households at large.
The stockholders approved the company's Charter under which the NCHB will be governed by the General shareholders' meeting, Board of Directors and General Director.
The stockholders also formed the company's Board of Directors including 14 members and appointed Andrey Sutchkov, Vice President of Vneshtorgbank as Chairman of the Board of Directors. General Director of the NCHB is now Aleksandr Vikulin, Counselor to ARB President.
Authorized capital of the NCHB was set at RUR 28 million. It is divided into two hundred eighty thousand common shares with the nominal value of RUR 100 each. The shares were allocated among the stockholders as per their requests in approximately equal number.
Also, the stockholders bear it in mind that in August - September, 2005, the company's authorized capital should be increased up to RUR 126 million through an additional issue of shares to be predominantly placed among financial institutions of the Russian Federation.
International company TransUnion Crif Decision Solutions LLC is nominated as the NCHB's strategic technological partner. This company is known as an international operator and a specialized provider of credit bureau technologies, it will provide an information system meeting the best world standards and share its operational and management expertise.
The stockholders are sure of the NCHB future success, since its business model is based on partnerships among the largest possible number of creditors and a credit bureau operator with international expertise. The NCHB is expected to attract a critical massive of lenders within the first two years, which will allow it to create a vast database to be offered to all perspective users.