OREANDA-NEWS. November 18, 2009. AS "PrivatBank" informed that, it has received a permit to open a representative office in Germany from the German supervisory body, Bundesanstalt fuer Finanzdienstleistungsaufsicht, reported the press-centre of PrivatBank.

The representative office of AS “PrivatBank” in Germany will not provide financial services but it will represent the bank’s interests, present it, enhance relationship with correspondent banks, and study the financial market.

Expanding the international representative office and branch network is one of the strategic tasks of AS “PrivatBank”.

AS “PrivatBank” has opened a branch in Portugal, in the nearest future, a branch in Italy will start operating. Since 2008, a representative Office in Spain has been operating.

About the bank. AS "PrivatBank" was established in 1992 and today it is one of the Latvian oldest banks. As of 2002, the leading Ukrainian bank PAO KB “PRIVATBANK” has become the major shareholder of AS "PrivatBank". AS "PrivatBank" is a universal commercial bank offering a wide range of banking services to individuals and legal entities including deposits, crediting, cash transactions, currency exchange, and other banking services. AS "PrivatBank" customers can receive quality service at more than 20 bank branches nationwide.