According to the president, the decision was made at Friday's session of the association.
Last year the association set up nonprofit partnership, which currently comprises 44 banks, including Sberbank, and owns over 60% of Russian retail credit portfolio. However, the law on credit bureaus, which is being considered by the State Duma, supposes commercial character of corresponding organisations. "In the second reading the State Duma decided that credit bureaus must be commercial organisations and in this connection we must carry out some transformations," Tosunyan said.
15 banks decided to become founders of the bureau today and 10 other banks will join them without doubt, the president remarked.
In particular, Sberbank is ready to join the founders, however this decision must be approved at a general meeting of the bank's shareholders, which is to be held next summer. At present partners are considering Sberbank's participation in the basic capital of the joint-stock company, Alexander Vikulin, CEO of the nonprofit partnership, said.
At today's session the founders approved the international TransUnionCrif company, the world's major provider of credit bureau systems, as a technological partner. The foreign partner will also become the new company's founder, Vikulin pointed out.
A foundation agreement is to be signed in December, Aleksei Volkov, Development Director of the partnership, said at a press conference.
"The new company is to start operating in late summer of 2005," he added.
Currently, Russian banks' retail credit portfolio arrears account for 5-6%. "The credit bureau will reduce banks' risks and losses, consequently, lowering lending rates," Volkov specified.
Asked about founders' shares in the capital Vikulin reffered to a corresponding law, which fixes a partner's share in the capital at no more than 10%. Details will be put down in the foundation agreement. Authorised capital of the company will amount to $4 mln, Vikulin said.
