Petersburg Social Commercial Bank, OJSC (PSCB) is a Russia-based commercial bank operating in the banking services market starting from 1993, and is head-quartered in St. Petersburg, North-West Federal District of Russia. Our Bank performs entire range of banking operations in foreign currency, providing services to small and medium enterprises (SME) and private persons both in St. Petersburg, Leningrad Region and Moscow.

Mission of the Bank is:

• To encourage firm development of our business and to contribute to the confident growth of well-being of our clients and employees, based on long-term cooperation,
• To increase well-being of our shareholders being conscious of our social responsibility.

Strategic Goals of the Bank are the following:

• By the end of 2011 — to join the Top 160–130 largest Russian banks in terms of the Net Assets;
• By the end of 2011 — to enter the Top-10 banks of North-West Federal District of Russia in terms of the Net Assets, in particular, through rendering end-to-end services to small and medium enterprises and further development of Bank’s multifunctional electronic payment system «KASSIRA.NET» for the retail clients;
• By the middle of 2011 – to attract strategic investor into the equity of PSCB.

Business Development Strategy of PSCB for 2007–2011, approved on the meeting of the Board of Directors 10 August 2008, stipulates strengthening positions of the Bank in the financial services market of North- Western Federal District of the Russian Federation and Moscow, as well as increasing further the market share, primarily in St. Petersburg and Leningrad Region.

It should be noted that PSCB, as one of its strategic tasks, intends to develop partner relationships with foreign banks-partners for co-financing of target programs and some customers of the Bank, as well as to take part as an official bank-partner in the specialized projects and programs of international financial institutions in Russia, including - potential raise of debt and equity finance.

After entrance of ‘RenFin Limited’ — private equity fund of the company ‘Renaissance Investment Management’ (international investment and banking group — Renaissance Group, http://www.renaissancegroup.com/) and its registration as one of the shareholders of the Bank (on 14 September 2007, RenFin Limited purchased 20 % less one share of the voting shares of Petersburg Social Commercial Bank, OJSC), the Board of Directors of the Bank approved Business Development Strategy of PSCB for 2007–2009, which was developed taking into account new realities.

Participation of one of the companies of Renaissance Group as a shareholder of PSCB will contribute to developing successful partnership with foreign banks in the field of joint financing of special purpose programs and the Bank clients, further inflows of new capital, extending contacts with potential foreign investors, improving quality of corporate governance, participating in specialized programs of international financial organizations in the territory of Russia, as well as to extending range of banking products and its sale network.