Subsidiaries

As of December 2010, the following principal subsidiaries of the Bank were included in the consolidated financial statements:

Name	Country of incorporation	Activity	% consolidated as at December 2010
Promsvyaz Finance Plc	Ireland	Financial activity	100%
PSB Finance S.A.	Luxembourg	Financial activity	100%
OOO “UK Promsvyaz”	Russian Federation	Financial activity	100%
OOO “Open Leasing Company”	Russian Federation	Leasing	100%
OOO “Promsvyazfactoring”	Russian Federation	Financial activity	100%