Promsvyazbank arranges financing for Agropromleasing to acquire John Deere agricultural equipment25.02 | 2009
Promsvyazbank and John Deere Credit (USA) have entered into an agreement whereby PSB receives a US$4.1 million 5-year loan to finance the purchase of John Deere (USA) agricultural equipment by CJSC Agropromleasing. John Deere is the world’s leading manufacturer of agricultural equipment and a major manufacturer of construction and forestry equipment. The company has a broad dealer network in Russia. Agropromleasing is part of Prodimex Group of Companies - one of the leaders in Russia’s agricultural industry.
About Promsvyazbank OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB407.6 billion, and total capital of RUB46.7 billion under IFRS as of 30 September 2008. Holding company Promsvyaz Capital B. V. owns 84.68% of the Bank, the remaining 15.32% are owned by Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service (stable outlook); “BB-” from Standard & Poor's (negative outlook); “B+” from Fitch Ratings (stable outlook). As of 1 February 2008, the regional network of the Bank in Russia encompassed about 170 sub-branches, 48 branches and 1 representative office; a foreign branch in Cyprus; and foreign representative offices in Kyrgyz Republic, Ukraine, China, and India.
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