In 2012 the owners of JSB Taatta CJSC changed. This fact led to significant expansion of business scale both in terms of assets and geographic presence. During the 2012 year the bank grew by 217% and began to operate in three regions of the Federation at once - in Yakutia, Krasnoyarsk Krai and Moscow.

Traditionally, there are two ways of bank's development - centralization and concentration. Centralization is a simple way according to which the key point is the availability of funds. Their owner can buy several lending institutions and combine them on a single platform. In this case the figures increase sharply, however, as the recent experience shows, no one but the rating agencies even notice that a new financial structure is sometimes significantly smaller than the banks included into it.

A more difficult way of development is the concentration of capital through the introduction of additional products, identifying new market segments and diversification of the credit institution. Taatta Bank has chosen this way. The main source of its development is a higher level of intelligence. I came to Taatta Bank with not just young and highly skilled people, but versatile professionals. Our team has achieved such significant results only due to high potential and tireless work. The main source of the bank development was the better quality of "grey matter". However, being a convinced Marxist I always remember the words of Karl Marx: "The process of objectification of physical power of mind is painful and difficult."

When you come into a whole new area, it is highly important to understand where and in what segment you are able to be the best. In particular in Yakutia private banking is such segment for us. We do not just attract deposits by members of wealthy groups of people by good rates, but also offer a program of family capital management with full hedging of risks.

Another example of diversification of business: in Yakutia - 10% of the population, about 30,000 people are students, we introduced to the market an "Education" loan at a modest rate for five years. This will allow the poor but talented children to get a decent education. Thus, the bank actually begins to implement its public mission - not just earning money, but also investing into the development of the intellectual potential of the Sakha Republic.

In addition, we have developed and are implementing special programs for multiplication of the loan resource -tender loaning, bank guarantees. As a result, people have realized that civilized bankers with a new morality and social ideology and not just "grabbers" that are ready to do anything for the sake of-money came to Yakutia market. There­fore, in a short time, in Taatta Bank were opened more than a thousand of new accounts.

I would also like to speak on the issue, which is being widely discussed at the moment - the development of consumer credit. In Yakutia, the level of household debt load is high. There are cases when a person already has three or four credits, and banks continue to credit him on. People take each subsequent credit to pay off the previous one, in short the pyramids are built in this way.

I think this way is unpromising. I'm sure it'll result in rising of social tension and lead to further crisis of confidence. We must understand that scoring itself requires unrestricted access to liquidity in the background of continuously growing real welfare of the people. Banks that trust scoring are especially exposed to risks associated with the natural cycles of reproduction.

Consumer credits are intended for the poor, financially undereducated segments of the people who are ready to borrow at 70-80% per annum. Some of my colleagues in private conversations even express pride over the fact that they are able to lend at 100% per annum. Their position is immoral. Power, control and banking community should be concerned with this problem.

Our way is different - we are investing in the productive capacity of the Sakha Republic, support small and medium-sized business, and as a result, contribute to an increase in taxable basis. JSB Taatta CJSC plans to enter the top 200 banks of Russia within 22 months. Thus, the best human resources, new social ideology and morality were the main components of our success.