Dear Sirs,
Targeted to negotiate and consider possible ways of our cooperation let me introduce you Open Joint Sock Social Commercial Bank of Primorye "Primsotsbank".
Our bank was organized on March 4, 1994. The General License of the Central Bank of Russia No. 2733 of 04.03.1994
Primsotsbank is one of the leading regional commercial banks in Primorsky Region of the Russian Far East. For 12 years we could not only survive in the competitive environment, but also to reserve strong positions on the local market. The bank renders full range of modern products and services but the key field for us is international banking and servicing of export and import transactions of our customers.
Primsotsbank is opened for any business proposals for cooperation in the following fields:
servicing of customer transactions;
servicing of foreign-economic activities;
payments using documentary Letters of Credit and Collections;
trade finance;
project finance;
money market and other spheres of cooperation between banks.
Bank positions itself as a universal bank for medium and small-size companies.At the same time many of the largest companies of the region are the customers of our bank, most of them are specializing in foreign trade. We as a bank are interested in effective utilization of our international ties to develop business of our customers and to attract new businesses. We constantly develop the spectrum of our services which includes among others consulting and structuring of payment schemes and techniques in international trade finance and search of business partners for our clients. We currently hold more than 10 000 corporate accounts and more than 70 000 private accounts.
The Head Office is located in the central part of Vladivostok. The bank has 6 offices in Vladivostok city and 11 btanches in Primorskiy region. Outside Primorskiy region branches are located in Petropavlosk – Kamchatsky, Moscow, St. Petersburg, Khabarovsk, Omsk.
Primsotsbank cooperates with such well-established institutions, like EBRD (European Bank of Reconstruction and Development) and IFC (International Finance Corporation).
Primsotsbank singed agreements of the following projects with EBRD and IFC:
1. In November 2005 EBRD provided a loan of RUB 90 million (USD 3 million equivalent) to Primsotsbank to support the bank's SME lending programs with longer tenors, which will benefit the local SME sector which is currently underserved by local banks.
2. In August 2006 IFC provided Subordinated loan of RUB 150 million to Primsotsbank, which was converted to bank’s shares in April 2007.
3. As well as IFC, EBRD invested in the Primsotsbank’s equity. Bank expect to complete share subscription in May 2007, after that IFC and EBRD will own 25 per cent plus one share of the bank’s equity and capital of the bank will be increased up to RUB 700 million.
Primsotsbank yearly financial statements are audited in accordance with IAS by "Moore Stephens" Independent Auditors since 1996.
Following the demand and interest of the customers and the bank's strategy Primsotsbank actively develops its correspondent network. We have many first-class banks among our most esteemed correspondents: American Express Bank, Commerzbank, The Bank of Tokyo-Mitsubishi, Agricultural Bank of China, Bank of China, Industrial and Commercial Bank of China, Ost-West Hadlesbank AG, Donau Bank AG, Bank for Foreign Trade of Vietnam, etc.
We are ready to discuss our tariffs with your specialists and to find the most appropriate decision for your esteemed company and our bank.
We can assure you that Primsotsbank uses modern banking technologies and is targeted to speed and quality of the services rendered.
We would very much appreciate your kind attention to our request. Should you need an additional information, please feel free to contact Ms. Olga Ivaschuk, Head of International Banking Division, tel. (4232) 42-42-42 + ext. 236, e-mail: olga@pskb.com
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