Financial Education

Citi Russia places great emphasis on improving the quality of financial education among Russian specialists and consumers of financial services. We are confident that knowledge of finances is crucial for every person, regardless of his field of activity or income level. We help people gain such knowledge and skills, as this is the only way in which they will be able to properly manage their family budget, plan large and small purchases, and generate savings. At the same time, we are working to raise the level of professional knowledge among specialists in the Russian banking sector, and among students at specialist universities and colleges. We see investment in financial education programs as a long-term investment in the development of human potential, which will promote prosperity in the Russian regions and the sustainable development of our own business in Russia.

Financial Literacy Internet Portal

In 2008, the International Business Leaders Forum (IBLF), with support from the Citi Foundation and other partners, developed an internet portal on financial literacy for Russians: www.azbukafinansov.ru. This educational internet-resource offers independent information – not marketing materials - about financial instruments; showing users how to plan personal budgets, why pension savings are so important, and much more. The portal is designed for various different social and age groups: school-goers, teachers and parents; private individuals and small business owners.
"Plan your future" training sessions

In 2007-2008, Citi Russia, jointly with the Russian Microfinance Center (RMC) implemented a financial education program for the general public, which was launched in five different Russian regions: Nizhny Novgorod, Samara, Rostov-on-Don, Ekaterinburg and St. Petersburg. The program is aimed at raising the financial literacy of people with low income levels. It helps them to compile a family budget, start saving for the future, and take decisions about strategic investments. Under the program for people living in the selected regions, a series of training sessions were conducted, entitled “Plan your future”. As a result of the program, more than 2,000 people, who had no previous experience of interaction with the banking sector, gained new knowledge about finances.
Investment in the professional growth of banking sector managers

Citi Russia is aware of the need for long-term investment to build a strong financial services sector in Russia. We facilitate the professional growth of high and middle-level managers of Russian banks.

Since 2001, the Citi Foundation has funded the ‘Volunteer Financial Services Corps’ with $1.2 million, to implement projects aimed at building knowledge among high- and mid-level managers in the Russian banking sector in the areas of risk management, credit transaction reporting systems, and counteracting money-laundering.
The Citi Finance and Management Academy

Citi provides solid support to university communities in countries across the world, including Russia. In November of 2007, with the financial and expert support of Citi, the Graduate School of Management at St. Petersburg State University opened a new project, the Citi Finance and Management Academy. Our specialists developed a training course that brings together the practical experience of Citi, modern technologies and the most up-to-date training methods. The training course includes lectures by Citi Russia managers, as well as by top managers and experts from Citi’s foreign offices. The syllabus for the 2008-2009 course will include case studies and lectures on personal financial planning, management of large private capital, risk management and corporate management, the unique characteristics of retail credit under crisis conditions, relations with regulators, and much more. Students who successfully complete the course will receive special Citi certificates.
Citi Professors

The Universities of St. Petersburg, Ekaterinburg, N. Novgorod, Rostov-on-Don and Volgograd have been granted financial support by the Citi Foundation for the development of programs in the field of finances and business administration, and now participate in the Citi Professors program. The funds received by universities will be used to finance and develop sets of student and teacher textbooks for advanced training of specialists, Master of Arts and MBA Finance students, and to develop and integrate courses on financial literacy among the population and students of “non-finance” faculties. The Citi Professors program brings together five of the largest Russian universities, including the Rostov State Economics University, the Urals State Technical University, the N. Novgorod Lobachevsky State University, the Volgograd State Technical University and the Graduate School of Management, St. Petersburg State University.