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Friday, November 24, 2017

PSB named 8th in lending to organizations

Expert RA recently named Promsvyazbank (PSB) eighth in its ranking of top 10 banks.
The ranking was based on organizational lending data from the Bank of Russia.

The bank's lending to nonprofit organizations increased 32.5 percent over 2013, which amounted to 504.9 billion rubles. The increase can be attributed to fluctuations in the economy, the bank being able to stabilize its finances and the selection of high-quality borrowers.

"PSB continues to maintain the average market growth rates in lending to all sectors of business, in some segments ... the marked increase (was) even faster than the market," ICB First Deputy Chairman Vladimir Yashin said.

The bank's clientele are offered credit, cash and settlement services, among many others. The bank has added more than 100,000 Russian organizations to its loan portfolio.

Organizations in this story

Promsvyazbank - Russia

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