Promsvyazbank makes top 10 of Russian bank ranking

Promsvyazbank (PSB) has for the first time made it into the top 10 of Interfax-100 list of Russian banks sorted by assets (as at YE 2009, according to RAS).

In 2009, PSB moved up one place in the ranking, which is compiled by Interfax-Center for Economic Analysis. The Bank’s assets grew by 4% during the year following the expansion of its funding base in Q4 2009. In particular, corporate funding was up by RUB 43 billion, and retail deposits increased by RUB 17 billion during the 4th quarter.

Interfax-Center for Economic Analysis is a division of Interfax International Information Group. The Center develops macroeconomic forecasts, conducts financial markets research, studies regional economics and analyzes trends in financial and money markets. It regularly publishes rankings (lists) of the largest banks and insurance companies in Russia and the CIS.

About Promsvyazbank

OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 414.5 billion, and total capital of RUB49.3 billion under IFRS as of 1 July 2009. Holding company Promsvyaz Capital B. V. owns 72.93% of the Bank, Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake, and the European Bank for Reconstruction and Development owns the remaining 11.75%. 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 February 2009, PSB had a network of about 240 points of sale in Russia, including 48 branches, a foreign branch in Cyprus, and representative offices in China, India and Ukraine.

Banking Group Promsvyazbank includes OJSC Promsvyazbank (head organization), OJSC Volgoprombank, OJSC Yarsotsbank and OJSC Nizhny Novgorod Bank. http://eng.psbank.ru/