OREANDA-NEWS. September 30, 2010. PSB has entered 2009 Russia's 500 Largest Companies List by Finance Magazine. PSB has improved by 27 positions in one year and now ranks 79th., reported the press-centre of PSB.

The magazine uses sales, the most objective measure of scale of a company's business, as the core ranking criteria. PSB sales (equivalent revenue) was calculated as the sum of interest income (before expense) and net non-interest income.

Priority in preparation of the ranking was given to IFRS or US GAAP financials, as well as management accounts.

About Promsvyazbank
OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB436.2 billion, and total capital of RUB53.7 billion under IFRS as of 1 July 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; “B+” from Fitch Ratings. As at 1 July 2010, PSB had a network of about 250 points of sale in Russia (after the accession of two banks), including 47 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 Bank 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/