Promsvyazbank moves 15 positions up among TOP 1000 world banks in ranking of the Banker Magazine

The Banker magazine has once again included Promsvyazbank in the Top 1000 World Banks according to the results 2008. The bank has been ranked number 426, which is 15 positions higher than in 2007.

The ranking has been based on Tier 1 capital of the banks as defined by the Basel Accord. In 2008, Tier 1 capital of Promsvyazbank has increased by 21.57% to USD1.254 billion as of December 31, 2008.

The Banker magazine is one of the world’s most respectable financial publications. Since 1970 the magazine has been publishing its annual rankings of the world’s biggest banks and this ranking is traditionally the most important event in the banking community. The ranking is based on the financial statements of the banks prepared according to the international standards.

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About Promsvyazbank

OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB461.8 billion, and total capital of RUB49.9 billion under IFRS as of 31 December 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; “B+” from Standard & Poor's; “B+” from Fitch Ratings.  As at 1 July 2009, the regional network of the Bank in Russia encompassed 48 branches, 191 sub-branches and other types of outlets and 1 representative office; a foreign branch and a retail office in Cyprus; and foreign representative offices in Kyrgyz Republic, Ukraine, China, and India.

Banking Group Promsvyazbank includes OJSC Promsvyazbank (head organization), OJSC Volgoprombank, OJSC Yarsotsbank and OJSC Nizhny Novgorod Bank. www.psbank.ru

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