“PSB” and “restoration” will consider the amalgamation of the banks

The boards of Directors of Promsvyazbank and Bank Vozrozhdenie were submitted to the extraordinary General meetings of shareholders of each Bank a question about their Association. The decision will be made until October 26. This is stated in the press release “PSB”.

Bank Vozrozhdenie became part of the holding company “PromSvyazCapital B. V. (PSK)” in 2015, and up to date between the two banks was the integration processes: the transition to the unified operational and technological platform, centralization of back-office functions, unification of the product line and building a cross-sales. Today the clients of Bank “the Renaissance” available for most products and services PSB and Vice versa.

Napominm that Promsvyazbank is a leading Russian private banks with assets of 1.2 trillion rubles and own funds (capital) of 151 billion as at 01.07.2017 according to IFRS. The Bank is in the list of systemically important credit institutions. The Bank has a network of about 300 outlets in Russia and a branch in Cyprus and representation in China.

Bank Vozrozhdenie is a personal Bank for corporate and private clients. According to the Bank of Russia included into the TOP-30 largest Russian banks. The Bank won the National banking award in 2016 for the contribution to development of economy of the Moscow region, the winner of the award “Financial elite of Russia” as the “Best mortgage Bank in 2015,” is consistently in the TOP-10 banks by volume of mortgage loans in the primary market and the TOP 10, the growth rate of home loans issued. The branch network has more than 120 offices and approximately 2,000 ATMs, including the ATMs partners. The Bank serves 1.3 million individuals and more than 42 thousand accounts of corporate clients.

“PSB” and “restoration” will consider the amalgamation of the banks 15.09.2017

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