Business Services Industry
RUSSIA: EXPERIAN PLANS RUSSIAN CREDIT BUREAU.
IPR Strategic Business Information Database, October, 2003
Credit giant Experian plans to set up shop in Russia by spring 2004, "Vedomosti" reported on 13 October. Central Bank Deputy Director Andrei Kozlov told the newspaper the Experian representatives have already cleared their plans informally with the Central Bank and confirmed that they can begin working in Russia even though the State Duma has yet to pass legislation on credit bureaus. With annual revenues of nearly $2 billion and divisions in more than 20 countries, Experian will be a heavyweight contender among Russia's fledgling credit bureaus. Some question whether the market is ready, however. Aleksei Volkov heads the Interbank Clearance System, a noncommercial partnership that is serving as the launch pad for a Russian credit bureau. Volkov told...
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