Artem Konstandyan, Promsvyazbank's (PSB) chairman of the board of directors, won the "Banker of the Year" award on Wednesday at the year-end reception for the Association of Russian Banks.

He stated that he was grateful to the association and his colleagues with the PSB.

"PSB is considered one of the most reliable and customer-oriented [organizations]. This award [is] yet another confirmation that our chosen business model is effective: We are trusted by customers and partners. We have a lot of challenges, but also opportunities that we will try to implement," Konstandyan said.

The National Banking Awards are held by the Association of Russian Banks and the National Banking Magazine as a means to reward financial institutions for their success and leadership in the industry. It also serves to give citizens a validation of the banks' commitment to successful handling of their finances. The awards were established in 2005. This year awards were given in 14 categories, and four special awards were also given.