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Sunday, March 26, 2017

PSB foreign transactions reaches $1.5B

Over the first nine months of 2014, Promsvyazbank (PSB) has reported an increase of 39.7 percent in their international funding transactions portfolio, a report released on Oct. 31 details.

In the same time frame in 2013, the bank amassed $1.5 billion. This follows a trend in the region with the regional network portfolio of international funding increased to 26 percent.

Managing Director of International, Documentary and Transactional business for PSB Alezander Meshcheryakov said that the bank met the increasing demand of trusted borrowers that in the past were limited to state banks. PSB is also addressing the need of increased financial instruments and export support. This also allows Russian enterprises to be maintained through tough economic conditions.

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