Promsvyazbank holds the conference "Expansion of the Russian rouble as a regional payment currency: problems and prospects"18.03 | 2009
On 12 March 2009, Promsvyazbank (PSB) held the conference ‘Expansion of the Russian rouble as a regional payment currency: problems and prospects’ at Ritz-Carlton hotel (Moscow). The conference aimed at introducing foreign bank representatives to the functioning of the Russian national settlement system and providing a discussion platform on the prospects for a stronger role of the Russian rouble as a regional payment currency. Foreign financial institutions represented the majority of conference participants. Conference speakers included Mr. Tosunyan, President of the Association of Russian Banks; Mr. Sokolovsky, Deputy Chairman of the Financial Markets and Currency Circulation Committee of the Federation Council; Mr. Batyrev, Director of CBR’s Payment System Regulation, Management & Monitoring Department, Mr. Konstandian, PSB’s First Vice President, Mr. Tomlianovich, Member of the Board and Head of Operations, Deutsche Bank; and Mr. Kuznetsov, Managing Director of the Russian National SWIFT Association. Conference participants pointed out the relevance of the conference topic. PSB is currently one of the leading clearing banks for settlements in Russian roubles, with almost 10-year experience in this field. PSB provides high-quality services to over 350 financial institutions in Russia, CIS and other countries. ____________________________________________________________________________________________________________________ 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 (negative 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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