PSB Annual General Shareholders' Meeting28.06 | 2010
On 25 of June PSB Annual General Shareholders' Meeting (AGM) has considered and approved 2009 results. The shareholders approved PSB 2009 Balance Sheet and Profit and Loss Statement. The AGM resolved to allocate a portion of previous years' retained earnings to redeem 2009 loss of RUR2.96 billion. In addition, a portion of previous years' retained earnings in the amount of RUR72.4 million will be allocated to the Reserve Fund. The AGM resolved not to pay a dividend for the financial year 2009. The AGM elected 9 members to PSB Board of Directors:
The AGM elected PSB Audit Committee and approved ZAO PriceWaterhouseCoopers as PSB auditor for 2010. The AGM also approved PSB membership in the Association of Factoring Companies. About Promsvyazbank OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 471.2 bn, and total capital of RUB 51.8 bn under IFRS as of 1 January 2010. 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 and“B+” from Fitch Ratings. As at 1 April 2010, 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. Upon completion of accession to OJSC Promsvyazbank of OJSC Volgoprombank and OJSC Nizhny Novgorod in May 2010, the Promsvyazbank Banking Group comprises OJSC Promsvyazbank itself as the parent credit institution and OJSC Yarsotsbank. http://eng.psbank.ru/  |
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