PSB releases Investor Bulletin based on the key preliminary IFRS financial figures for 2009

According to the preliminary unaudited IFRS financial figures for 2009, at YE 2009 PSB total assets amounted to RUB 473 billion, gross loans totaled RUB 303 billion and customer deposits rose to RUB 290 billion. Profit before tax and provision increased by 29% YoY to RUB 20 billion. Total capital adequacy ratio grew to 14.5%, and tier 1 ratio was 9.9% as at 31 December 2009; these figures do not include the recent capital increase through a new share issue, subscribed to by the EBRD and Commerzbank, and registered by the Central Bank of Russia in February 2010. The reported preliminary figures are subject to change, pending the completion of the audit by PSB’s independent auditor KPMG. In April, PSB plans to release its audited IFRS financial statements for 2009.

In more detail the preliminary 2009 IFRS financials are discussed in the March 2010 issue of PSB Investor Bulletin available on the Bank’s website at http://eng.psbank.ru/292/411/.

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/