OREANDA-NEWS. December 14, 2011. Promsvyazbank has announced its IFRS Q3 2011 results.

Net profit for 9M 2011 was reported at RUB 2.1 bn, supported by almost twofold growth in Q3 2011, vs. Q2 2011. Q3 2011 net interest income was up 22% compared with the Q2 2011 result, while the net interest margin grew to 5% vs. 4.3% in Q2 2011, reported the press-centre of PSB.

PSB’s total loan portfolio as at 1 October 2011 stood at RUR 405 bn, achieving 12.3% growth in Q3 2011. The share of NPLs continues to decrease, from 9.2% as at the beginning of the year, to 7.4% as at the end of Q3 2011.

Promsvyazbank’s updated Investor Bulletin provides a more detailed discussion of the Bank’s Q3 2011 financial results and is available at http://eng.psbank.ru/292/411/

About Promsvyazbank
OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 524 bn and total capital of RUB 64.4 bn under IFRS as of 1 October 2011. Holding company Promsvyaz Capital B. V. owns 72.93% of the Bank; Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake; and the European Bank for Reconstruction and Development owns the remaining 11.75%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service; “BB-” from Fitch Ratings. As at 1 October 2011, PSB had a network of about 260 points of sale in Russia, as well as an overseas branch in Cyprus, and representative offices in China, India, Ukraine and Kazakhstan. http://eng.psbank.ru/