PSB completes additional share offering26.12 | 2011
Bank of Russia registered PSB RUB4 billion Additional Share Offering Report. Two investors, European Bank for Reconstruction and Development (EBRD) and Promsvyaz Capital B.V., participated in the offering. Following the offering, Promsvyaz Capital B.V. boosted its share to 73.885%, EBRD's stake in the bank remained unchanged at 11.7457%, while the share of Commerzbank decreased by less than 1% to 14.3693%. PSB registered capital increased by 6.6%, to RUB11.134 billion. The additional offering will help to improve capital adequacy and further drive PSB business growth. The ultimate beneficiary owners of Promsvyaz Capital B.V. are Messrs. Alexey Ananiev and Dmitry Ananiev. The European Bank for Reconstruction and Development is an international financial institution that supports projects in 30 countries from central Europe to central Asia. The Bank invests mainly in private enterprises, provides project financing for banks and corporates, both new ventures and existing companies. It also works with publicly owned companies to support privatization, restructuring of state-owned firms and improvement of municipal services. EBRD is owned by 61 countries and two intergovernmental organizations.
About Promsvyazbank OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 524 bn and total capital of RUB 64.4 bn under IFRS as of 1 October 2011. Holding company Promsvyaz Capital B. V. owns 73.88% of the Bank; Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 14.37% 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; “BB-” from Fitch Ratings. As at 1 December 2011, PSB had a network of over 260 points of sale in Russia, as well as an overseas branch in Cyprus, and representative offices in China, India, Ukraine and Kazakhstan. http://eng.psbank.ru/ |
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