Promsvyazbank (PSB) announced Wednesday that it had been awarded an AA+ credit rating from the National Rating Agency.

PSB's announcement said that despite the difficult macroeconomic climate in Russia, it was able to continue operations because their dependence on the Central Bank of Russia was two times lower than the average of other banks and institutions in the federation. The bank also acquired over $530 million in 2014.

The credit rating solidifies PSB as a significant bank within Russia that will play a crucial role in the country's economic recovery.

The agency explained that the bank's rating reflected its status in the country, its ability to monitor and avoid unnecessary risks, its high levels of self-governance and a modern structure of organization that minimizes operational risks.