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Thursday, 26 April 2018, 15:00 HKT/SGT
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Source: JCB / Far Eastern Bank
JCBI and Far Eastern Bank sign a new partnership on acquiring and issuing of JCB cards

Vladivostok, Russia & Tokyo, Japan, Apr 26, 2018 - (ACN Newswire) - JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co. Ltd, and Far Eastern Bank, one of the largest banks in the Russian Far East and Eastern Siberia, today announced the signing of a license agreement on acquiring and issuing of JCB cards.

According to the terms of the agreement, Far Eastern Bank will start accepting JCB cards on the bank's ATM network and POS terminals, as well as issuing JCB cards. Far Eastern Bank has a wide network with more than 4,054 POS terminals and 311 ATMs located in the territory of the Far East and Eastern Siberia, and this network is constantly expanding.

Yuichiro Kadowaki, Senior Vice President, JCB International Co., Ltd., noted: "The new partnership with Far Eastern Bank, one of the leading financial institutions of Primorskiy Krai, is an important milestone for us taking into account the bank's customer base and wide coverage of POS and ATM network in the Far Eastern region. We hope that the bank's new JCB card product will become a convenient and advantageous payment tool for Russian business people and tourists who often visit Japan and other countries in the Asia-Pacific region. All these new customers will be able to enjoy JCB unique offers and privileges around the world. Acceptance of JCB cards on the bank's POS and ATM network will help to expand the range of the bank's services and to promote development of inbound tourism in the region. JCB cardholders traveling to the Russian Far East will feel more confident. Acceptance is also important for JCB cardholders in Russia, where JCB cards have been issued since 2015 and the number of cards is constantly growing."

Valery Pavlyuk, President of PJSC Far Eastern Bank, emphasized: "The implementation of this project will provide the bank the opportunity to issue all types of JCB card products, which allow payment transactions both in Russia and abroad. Cooperation with JCB International is an important and logical step in the development strategy of the retail business of Far Eastern Bank. We were the first bank in Vladivostok to issue payment cards. For 28 years since our foundation we have maintained and strengthened our leadership. Today the number of cards issued by the bank exceeds 800 thousand, and we keep leading positions in the Far East and Eastern Siberia in terms of issuing cards of the National Payment System Mir. Cooperation with JCB International opens new opportunities for us and our customers, and we are confident of success."

About Far Eastern Bank

PJSC Far Eastern Bank is a universal financial institution, which keeps a leading position in the Far East and Eastern Siberia. It was founded in Vladivostok in 1990 and is the same age as the banking system of Russia. The international agency Moody's Investors Service assigned Far Eastern Bank long-term deposit rating in foreign and national currency - B2.

The rating agency RAEX (Expert RA) assigned to Far Eastern Bank a credit rating at the level of ruBBB. The rating set a stable outlook.

Far Eastern Bank serves more than 17,000 corporate clients, small and medium-sized enterprises engaged in all major sectors of the economy, as well as about 240,000 private clients. Today the Bank has a network of 42 branches in 10 regions of Russia. Additional information about the Bank is available on the website http://www.dvbank.ru.

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.ru.jcb/ru/ or www.global.jcb/en/.

Contacts:
Far Eastern Bank
Press office
Levikova Lyubov'
Tel: + 7-914-792-5986
Email: [email protected]

JCB Co., Ltd.
Kumiko Kida
Corporate Communications
Tel: +81-3-5778-8353
Email: [email protected]


Apr 26, 2018 15:00 HKT/SGT
Topic: Press release summary
Sectors: Cards/Payments, Daily News
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