PSCB, OJSC at a glance 

Petersburg Social Commercial Bank, Open Joint Stock Company (hereinafter, PSCB, OJSC) is Russia-based universal commercial bank registered on October 29, 1993 in St. Petersburg. 

General License of the Central Bank of the Russian Federation №2551 dated May 25, 2006. PSCB, OJSC has been a participant of the Deposits Insurance System since 18th November 2004. To read more about the Deposit Insurance System and the State Corporation Deposit Insurance Agency.

PSCB, OJSC carries out the whole range of banking transactions in Russian Rubles (RUB) and foreign currency in St. Petersburg, Moscow and Gatchina, and focuses on the following 3 principal business lines: 

• Corporate and Retail Cash Management
• SME Lending and Working Capital Financing for Trade Enterprises
• Corporate Lending and Global Trade Finance 

PSCB-Bank’s Total Assets per the IFRS for the FY-ended December 31, 2009 amounted RUB 8,447 Mln (USD 282 Mln).

Our Bank’s Equity as at 31 December 2009 increased by 13% and totaled RUB 1,370 Mln (USD 45 Mln) in comparison with FY-ended 31 December 2008. 

PSCB-Bank’s Net Profit for 2009, calculated in accordance with the IFRS, has increased by 162% and totaled RUB 255 Mln (USD 8.5 Mln) in comparison with the Net Profit = RUB 97 Mln derived in 2008.

PSCB, OJSC has 5 branches in total: the headquarters and 2 branches are located in the historical center of St. Petersburg, 1 full-service branch is situated in Moscow, and 1 office – in Gatchina (Leningrad Region).

The Bank renders services to over 13,500 corporate and SME-customers, and around 73,000 retail customers.

Our bank employs over 300 staff members.

Fitch Ratings Ltd. rates PSCB, OJSC with ‘B-‘ having ‘Stable’ Outlook (affirmed last on July 09, 2010). The National long-term rating of PSCB, OJSC was upgraded from "BB-(rus)" to "BB(rus)".

Moody's Investors Service affirmed ‘B3’ Long-term foreign and local currency deposit rating with a ‘Stable’ Outlook in its Credit Opinion released on October 19, 2010.

PSCB took an official participation in two international programs of the International Finance Corporation (IFC), the World Bank Group: 'Russia Banking Sector Corporate Governance Project' in 2005-2006 and 'Russia Primary Mortgage Market Development Project' in 2006-2009.

Since September 14, 2007, “RenFin Fund” - – private equity fund managed by Renaissance Investment Management of international investment and banking group – Renaissance Group (http://www.renaissancegroup.com), has been one of the major shareholders of PSCB, OJSC (PSCB is the first bank in St. Petersburg that has attracted an international portfolio investor into its equity). 

On March 26, 2010 our Bank - PSCB, OJSC signed a Credit Agreement on USD 10,000,000 10-year loan with U.S. financial institution – WorldBusiness Capital, Inc (WBC: www.worldbusinesscapital.com). to finance the expansion of PSCB - Small and Medium Enterprises lending business in Russia. The Loan is supported by the Overseas Private Investment Corporation (OPIC: www.opic.gov), an agency of the United States Government. The Loan proceeds are disbursed to PSCB to finance the Bank's loans to SMEs (the 1st disbursement was received March 31, 2010 already). For further details, please click here to download an official press-release.

The loan from WBC will be accompanied by a 5-year consulting agreement between Financial Services Volunteer Corps (‘FSVC: www.fsvc.org) and PSCB, OJSC to provide a series of technical advisory assistance projects for our Bank’s business line managers and loan officers.

We at PSCB believe that this co-operation with the leading U.S. financial institutions provides us with an excellent opportunity to work with such reputable international financial institutions as WorldBusiness Capital, Inc., OPIC and FSVC. We also look at this as an opportunity to improve the Bank’s overall efficiency and chance to develop SME-lending business with the support of the leading U.S. financial institutions’ expertise and technical advice from the U.S.A.

For further information please click here to download the Presentation of PSCB, OJSC for the Foreign Investors and Partners.

Sincerely yours,

Nikolay Alekseev

Nikolay Alekseev

Deputy Chairman of Management Board

Director of International Business Development and Foreign Investments

Petersburg Social Commercial Bank, OJSC

Tel/Fax: +7 (812) 332 3174

Cell: +7 (921) 942 9771

E-mail: nalekseev@pscb.ru

www.pscb.ru