portfolio of loans issued under the new Promsvyazbank own credit program of small and medium-sized businesses, has exceeded 1.5 billion rubles.
As part of the bank's strategy on development of banking services for small and medium business in April 2007 Promsvyazbank established a department of small and medium-sized businesses, and in September 2007 launched a new credit program in Moscow, Moscow region, as well as in 20 regional branches. This was revised criteria for the borrowers belonging to a segment of small and medium-sized businesses, according to new criteria, the total loan portfolio to small and medium enterprises at 01.01.2008 amounts to more than 9 billion rubles.
For three months the bank has issued more than 500 credits. 64% of all loans are affiliated. The most popular product in the line of credit for small and medium-sized enterprises is a product of the PSS Business (28% of the loan portfolio).
In 2008, the Bank plans to build a portfolio of loans to small and medium enterprises up to 28 billion rubles.
Promsvyazbank offers three main product for the three groups of clients: «PSB-first», «PSB-Business» and «PSB-Invest». Credits are issued in rubles, dollars and euros.
programs Promsvyazbank main advantages - it is fast and flexible decision-making, as well as the opportunity to obtain long-term resources - up to 5 years. Chance of individual repayment schedule and deferment of payment of principal up to 9 months.
To date, loans to small and medium enterprises are given at branches Promsvyazbank in Moscow, Abakan, Barnaul, Vladivostok, Vladimir, Volgograd, Vologda, Ivanovo, Kemerovo, Kirov, Kaliningrad, Krasnoyarsk, Nizhny Novgorod, Novosibirsk, Omsk, Rostov-on-Don, Ryazan, St. Petersburg, Tambov, Chita, Yaroslavl, and in ten cities in the Moscow region. Since February 2008, the program will operate in all 42 branches throughout Russia Promsvyazbank.
Source: Press Service of JSC Promsvyazbank
