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Promsvyazbank, <

  • xml:namespace prefix = st1 />Moscow has jointly mandated Commerzbank and ING to arrange its first syndicated trade finance facility. The facility size is US$20mn with a maturity of 364 days. Joint-stock Bank Promsvyazbank was set up in 1995. The founders included JSC MMT (Moscow Intercity and International Telephone), Space Telecommunication Company (Russian Ministry of Telecommunication), and Technoserv. As the bank has grown, other investors have joined the founding shareholders.

    Promsvyazbank is rated among 30 largest banks in Russia in terms of capital and total assets.