Mr. Lou Naumovski

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  www.iblf.org/media_room/general.jsp?id=123928 - [Cached Version]
  Published on: 5/16/2007    Last Visited: 9/13/2007  

  "We are ready to deliver this information even without our logo," said Lou Naumovski, senior vice president of Visa CEMEA.

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  www.usrbc.org/AM05/speaker_en.html - [Cached Version]
  Published on: 4/16/2006    Last Visited: 3/15/2007  

  Lou Naumovski Senior Vice President & General Manager , Russia and CISVisa International, CEMEA
  
  Lou Naumovski is the Senior Vice President and General Manager in Russia and the CIS for Visa International, CEMEA.He is responsible for the development of Visa's business in Russia and the eleven other countries of the Commonwealth of Independent States.
  
  Prior to joining Visa, Mr. Naumovski worked for the European Bank for Reconstruction and Development (EBRD), where he spent five years as Resident Representative and Senior Banker in Moscow . As Senior Banker in London from 1997 to 2000, Mr. Naumovski initiated and led projects in the steel, wood products, automotive manufacturing and satellite launching sectors.Immediately prior to joining the EBRD, Mr. Naumovski was the Executive Director of the Canada - USSR Business Council, which was a major private sector initiative for the development of trade and investment between Canada and the countries of the former Soviet Union .
  
  Mr. Naumovski has degrees in Economics and Political Science and History and International Relations.

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  www.usrbc.org/AM05/program_en.html - [Cached Version]
  Published on: 4/16/2006    Last Visited: 3/15/2007  

  Lou Naumovski, Senior Vice President and General Manager, Visa International Service Association

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  www.fsvc.org/SupportUs/InvestinginRussianBanking07.html - [Cached Version]
  Published on: 10/11/2008    Last Visited: 9/24/2007  

  Lou Naumovski, SVP and General Manager, Visa International

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  www.usrbc.org/events/AM_06/agenda.asp - [Cached Version]
  Published on: 12/5/2006    Last Visited: 3/15/2007  

  Lou Naumovski, Sr. VP and GM, Russia and CIS; Head of Strategy and Business Planning, CEMEA, VISA International Service Assn.

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  www.asi-conferences.com/html/2008/metals/mrc011.html - [Cached Version]
  Published on: 1/1/2008    Last Visited: 1/1/2008  

  Lou Naumovski, VP Commercial and General Director, Russia, Kinross Gold Corporation

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  www.corporate.visa.com/md/nr/press201.jsp - [Cached Version]
  Published on: 11/18/2003    Last Visited: 3/3/2007  

  Lou Naumovski, general manager of the Visa representative office in Russia, senior vice president Visa CEMEA, added, "The strong adoption of the Moscow Social Card reflects the success of adapting global technology to the local market and, in the process, creating new value for Muscovites, merchants, and local government."
  
  As part of the program, Visa - together with Bank of Moscow and Rosan Finance - are piloting the latest smart card technology, including dual interface cards and dynamic data authentication (DDA).

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  1 Millionth Sberbank Visa Issued - [Cached Version]
  Published on: 7/3/2003    Last Visited: 7/3/2003  

  Sberbank now has 1 million Visa clients, which translates into an 18 percent market share, but several other institutions, including Promstroibank St. Petersburg, Avtobank and the Bank of Moscow may pass the 1 million mark within the next two or three quarters, said Lou Naumovski, head of Visa International's Moscow office.
  
  "Two to three years ago, we anticipated that the number of Visa cards would grow at a 100 percent rate and turnover to increase 50 percent on an annual basis," he said.The prediction proved correct, and there is no sign the pace will slow, he added.
  ...
  "The participant member category is an outgrowth of developed markets," Naumovski said."We no longer recommend it for Russia."

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  3rd Annual Conference on Investing in Russian Banking:... - [Cached Version]
  Published on: 3/30/2007    Last Visited: 9/24/2007  

  Lou Naumovski, SVP and General Manager, Visa International >> presentation

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  ANN/Groong -- Naumovski: Armenian Banks have worked... - [Cached Version]
  Published on: 11/3/2003    Last Visited: 11/11/2003  

  Naumovski: Armenian Banks have worked satisfactorily
  
  From: "Katia M. Peltekian" Date: Mon, 10 Nov 2003 23:12:42 -0800 (PST)
  
  LOU NAUMOVSKI: ARMENIAN BANKS HAVE WORKED SATISFACTORILY
  
  ARKA News Agency - Interview Nov 3 2003 An exclusive interview of Lou Naumovski, Senior Vice President and General Manager of Visa International Service Association, Moscow Representative Office, to ARKA News Agency.
  
  ARKA - A year ago, you presented the first participants of Visa International in Yerevan.What can you say about the Armenian banks' activities in the VISA system within the period?
  
  Lou Naumovski - We were in Yerevan in November 2002, and we projected some 30,000 cards for the year.
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  Lou Naumovski - According to the projections, the Armenian banks will issue some 30,000 cards by the end of 2003.Very much will depend on Armsavingsbank, as it joined the system some 6 months later than other banks, though the bank's opportunities and reported indices allow us not to worry about the bank.
  
  ARKA - Are you negotiating with other Armenian banks, willing to join VISA?
  
  Lou Naumovski - We are still negotiating with Anelik Bank, which is a good bank, the capital level of which, unfortunately, does not meet our requirements.
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  Lou Naumovski - We may accept those banks as principal members, provided that some of them meet our requirements as to the capital level and international accountability.But, it may be pointless and not feasible for the Armenian market to have small banks, which will pay much money for the VISA principal membership.
  
  ARKA - Which of the local banks are members of VISA?
  
  Lou Naumovski - The VISA principal members are Areximbank, Agricultural Co-operative Bank of Armenia, Conversebank and HSBC Bank Armenia.Armsavingsbank is an associate member.
  
  ARKA - As far as we know, Areximbank is going to launch its own processing center in Armenia.What can you say about it?
  
  Lou Naumovski - The intention to implement the processing center is due to the fact that Areximbank is a member of Russian Impexbank, which has very good experts and is operating successfully in the system in Russia.As to the technology, this is one of the best processing centers and has a good reputation all over the world.We shall start certification of Areximbank, as soon as it completes the system installation and passes its internal tests.
  
  ARKA - What about the local banks' turnover on VISA system?
  
  Lou Naumovski - According to June data, the local banks' turnover on VISA cards amounts to $2,5 mln.But it is necessary to consider the fact that the emission of VISA cards started in January, 2003.
  
  ARKA - How many card service points are there in Armenia?
  
  Lou Naumovski - There are 50, but the banks should make investment to prepare their clients.Namely, how to use ATMs, what shops service them and others.The banks should expand the card service net and I would like to see in Armenia a better development of medium outlets, supermarkets and not expensive shops and boutiques.
  
  ARKA - How many service points there should be in Armenia, as to you?
  
  Lou Naumovski - We would like to see a few hundred points in Armenia by the end of 2003.But the process is impeded by too many obstacles.The State may help in the issue.In particular, by providing privileges to the trade outlets having POS-terminals, or relieving their tax burden.
  
  ARKA - What problems are the local banks facing, as to you?
  
  Lou Naumovski - The problem is to prepare all the market participants.
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  Lou Naumovski - This is hard to say, as the Russian banks, for example, realized the major thing - that is the necessity to focus on clients, to upgrade service and make correct segmentation, etc. - after 13 years only.On the other hand, the local market has a real chance to develop within 5-6 years, considering the GDP growth, political stability and banking sector consolidation.
  
  ARKA - How would you asses the local market's potential?
  
  Lou Naumovski - According to our projections, the Armenian banks will issue some 150,000 cards by the end of 2004 and the number of cardholders in Armenia will reach half a million in 5 years.
  
  ARKA - Will the Armenian banks be involved into VISA news project - P2P money transfers (Person To Person)?
  
  Lou Naumovski - As to our new service - money transfer between physical entities to VISA cards, then we have studied the local market and its potential and are going to implement the system in Armenia.

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