Significant Events 2009

• February 2009. SBERBANK of RUSSIA OAO (Savings Bank of the Russian Federation) established a credit facility for PSCB in the amount of RUR 100 Mln with a tenor up to 1 week for short-term bank-to-bank loans.
• February 2009. LHB Internationale Handelsbank AG re-established a blank credit facility for PSCB in the amount of EUR 500,000 for short-term trade finance services and documentary operations not exceeding 3 months.
• January 2009. ZAO Raiffeisenbank established a credit facility for PSCB in the amount of RUR 111 Mln with a tenor up to 1 week for short-term bank-to-bank loans.
• January 2009. VTB Bank (Deutschland) AG re-established a blank credit facility for PSCB in the amount of EUR 5 Mln for short-term trade finance services and documentary operations not exceeding 4 months.

Significant Events 2008

• December 2008. The Central Bank of the Russian Federation (CB RF, Bank of Russia) has increased a credit limit for PSCB for the loans without any collateral up to RUR 1,197 Bln and extended the tenor up to 3 months (according to the Provision of the CB RF No. 323-P dated 16 October 2008).
• 20 October 2008. The Central Bank of the Russian Federation (CB RF, Bank of Russia) established a credit limit for PSCB for the loans without any collateral in the amount of RUR 844 Mln. with a tenor up to 5 weeks (the credit limit of CB RF was established on the basis of the Provision No. 323-P dated 16 October 2008).
• 01 October 2008. The Federal Customs Service of the Russian Federation (FCS of Russia) has approved PSCB and added our Bank into the Register of commercial banks, having the right to issue bank guarantees of payment of customs fees. This instrument, on the one hand, warrants execution of obligations towards the state on payment of customs fees, and on the other hand, this kind of bank guarantee enables companies active in foreign trade business to use their own funds for the business development. According to the Order No. 1243 of the Federal Customs Service of the Russian Federation, PSCB has received a limit for the all simultaneously effective banking guarantees in the amount of RUR 170 Mln, whereas the maximum exposure of a single bank guarantee may not exceed RUR 35 Mln.
• 22 August 2008. The international rating agency Moody's Investors Service has assigned the following global and national scale credit ratings to Petersburg Social Commercial Bank OJSC: B3 long-term and Not Prime short-term foreign and local currency deposit ratings and an E+ bank financial strength rating (BFSR). The outlook for all ratings is stable. At the same time, Moody's Interfax Rating Agency has assigned a Baa3.ru long-term national scale credit rating (NSR) to PSCB. Moscow-based Moody's Interfax is majority-owned by Moody's, a leading global rating agency.
• July 2008. LHB Internationale Handelsbank AG (Germany) and Oberbank AG (Austria) provided blank credit facilities to the Bank for short-term trade finance services and documentary operations in the amount of EUR 500,000 (confirmation with Oberbank AG – on the case-by-case basis), and at the same time Commerzbank AG has increased amount of its blank credit facility for short-term trade finance transactions for PSCB from EUR 1 Mln to EUR 3 Mln.
• June 25, 2008. The international rating agency Fitch Ratings Ltd. upgraded international and national rating of Petersburg Social Commercial Bank (PSCB) on 25 June 2008 as follows: Foreign currency Issuer Default Rating (IDR) upgraded to ‘B-’ from ‘CCC’; Short-term IDR upgraded to ‘B’ from ‘C’; National rating upgraded to ‘BB-’ from ‘B’. The Outlooks for the Long-term IDR and National Long-term rating remain Stable. In addition, Fitch Ratings Ltd. affirmed the other ratings of PSCB. Upgrade of the international and national ratings of PSCB contributes to improvement of transparency and openness of the Bank towards foreign and the Russian investors, intensification of the Bank’s international business connections and raise of long-term funding and credit facilities from foreign lenders at more favorable conditions, and this also evidences increase of the Bank’s reliability. July 2008. LHB International
• May 2008. PSCB signed the tripartite Requested Rating Agreement with the international rating agency Moody’s Investors Service Inc. and MOODY’S Interfax Rating Agency ZAO in order to receive global and national ratings. Monitoring of PSCB activities performed by the rating agency will contribute to increasing transparency and openness of the Bank to foreign and Russian investors and lenders, as well as allow performing all-side analy­sis of the Bank’s activities.

Significant Events 2007

• December 2007. The Bank and the ‘Central Moscow Securities Depository, JSC’ signed the cooperation agreement whereby the Bank transfers the shareholders register to a specialized independent registrar. The decisions made by the Bank Board of Directors is in line with generally accepted international standards.
• December 2007. Commerzbank AG, Deutschland and the Bank reach an agreement enabling the Bank to employ blank credit facility granted to the Bank for short-term trade finance services and documentary operations
• December 27, 2007. General Administration of the Central Bank of the Russian Federation in St. Petersburg registered the Report on the first additional issue (thirteenth issue) of the PSCB’s shares. Amount of the additional share issue totaled RUR 270,300,000 (two hundred seventy million and 300 thousand) Russian Roubles.
• December 20, 2007. The Bank proceeds to the issue of international corporate bank cards VISA Business.
• December 14, 2007. The Bank and the Agency for Utility Payments launch the joint project of creating the net of utility payment acceptance outlets in the stations of Saint-Petersburg Subway.
• December 6, 2007. The Bank and the Loan Guarantee Agency, OJSC, established by the Government of the Leningrad region sign a cooperation agreement.
• November 26, 2007. The Bank signs Loan Agreement with UPS Capital Business Credit, USA, according to which provisions the Bank gets the possibility to finance import of capital goods and equipment from the USA by Russian customers. It also starts providing a set of services to American companies entering the Russian market.
• November 15, 2007. The Bank Board of Directors approves the Bank’s Business Plan for the period ending January 1, 2010.
• November 2007. VTB Bank (Deutschland) AG provides blank credit facility to the Bank for short-term trade finance services and documentary operations.
• October 11, 2007. Federal Security Service Administration of Saint-Petersburg and Leningrad region issues 3 (three) licenses to Petersburg Social Commercial Bank, OJSC (PSCB, OJSC) that permit the Bank to conduct promotion, maintenance of cryptographic means and to render services in the sphere of information encryption.
• September 2007. ‘RenFin’ Private Equity Fund of Renaissance Investment Management company (international investment and banking group «Renaissance Group») acquires the minority stake from the Bank present shareholders.
• August 10, 2007. The Bank Board of Directors approves the Business Development Strategy for the period of 2007–2009.
• June 2007. The Bank commences rendering short-term trade finance services to its clients via issue of Letters of Credit and Bank Guarantees employing blank credit facility provided to the Bank by Raiffeisen Zentralbank Osterreich AG (Austria).
• May 2007. The Bank proceeds to the issue of its own cards VISA Gold, VISA Classic and VISA Electron. March 15, 2007. PSCB is awarded with title of one of the best taxpayers and was granted a Diploma of the Interdistrict Inspection of the Federal Tax Service No. 4 in St. Petersburg for substantial assistance in generating revenue part of the budget.
• February 6, 2007. The Bank signs Framework Loan Agreement with AKA Export Finance Bank, Germany, enabling the Bank to provide medium- and long-term financing to its clients importing goods and services from the Federal Republic of Germany.
• January 2007. The Bank payment system «KASSIRA.NET» makes it possible for the bank clients to repay car, mortgage, consumer and any other kinds of loans as well as to pay for different services employing the net of automated payment terminals.

Significant Events 2006

• July 14, 2006 – Chief Administration of the Bank of Russia in Saint-Petersburg registered the Decision of PSCB, OJSC shares emission. The emission envisaged conversion of the Bank shares into shares of increased face value. The face registered emission volume – RUB 503 685 000
• June 23, 2006 – Folker Undorf (a citizen of FRG) was elected an independent Director, a member of the Board of Directors of PSCB
• June 06, 2006 – a new outlet “Bolsheokhtinsky” commenced operations at the address: 16, Bolsheokhtinsky ave., Saint-Petersburg
• June 1, 2006 – in May 16 an entry was made into the Single State Registry of Legal Entities about state registration of amendments introduced into the Bank Charter in connection with the change of the company type and the Bank name. The new name: Petersburg Social Commercial Bank, Open Joint Stock Company. Abbreviated name PSCB, OJSC.
• April 27, 2006 – the international rating agency Fitch Ratings gave the following ratings to PSCB: Emitter Default Rating ("EDR") - "CCC+"/ outlook - "Stable", Short-term Rating - "C", Support Rating - "5", Individual Rating -"D/E". The Bank was also given the long-term national rating "B (rus)"/ outlook - "Stable"
• March 13, 2006 – A multipurpose Outlet “In Stepan Razin Street” began operating on the basis of the mini-outlet “In Stepan Razin Street” located at the address: 7/78, Stepan Razin str., Saint-Petersburg
• March 10, 2006 – the annual shareholders meeting of PSCB made a decision to change the type of the company incorporation to be an open joint stock company, the event was connected with the planned emission of IPO in 2008-2009
• February 22, 2006 – International Financial Corporation (IFC, World Bank group member) and PSCB signed an agreement on the Bank participation in the IFC working group «SUPER» («Standards, Primary Mortgage Market Unification»). The cooperation was aimed at internal credit policy and normative documents by IFC experts, as well as envisaged development of recommendations with regard to mortgage loans granting by the Bank
• January 30, 2006 – PSCB started emission of Master Card in cooperation with SberBank
• January 27, 2006 - Chief Administration of the Bank of Russia in Saint-Petersburg registered the multipurpose outlet "Kalininsky," located at the address: 15-А, Kondratievsky ave., Saint-Petersburg
• January 2006 – PSCB became a participant of the International Financial Corporation Project (IFC, World Bank group member) «Russia Banking Sector Corporate Governance»
• January 2006 - the bank signed a Rating Agreement with Fitch Raiting LTD. Under the agreement the agency was requested to give ratings to PSCB and the Bank forthcoming securities emissions
• December 23, 2005 – PSCB signed an agreement with the Housing Committee about cooperation within the frames of the target programme of Saint-Petersburg «Development of long-term mortgage investment in Saint-Petersburg for the period 2002-2012»
• January 2006 – Training Centre of PSCB located in the 5th floor of the outlet «Moskovsky» was commissioned. The address: 25, Tsvetochnaya str., Saint-Petersburg. The Training Centre was set up for housing seminars for the bank clients.

Significant Events 2005

• February 21, 2005 – opening the multifunctional additional office “Severny” at the address: 76 B. Sampsonievsky Prospect, St. Petersburg,
• March 10, 2005 – ZAO PSCB obtained General License of the CB RF to carry out banking transactions, which allows the Bank to ensure intensive development of relationships with foreign banks and attraction of investments through the overseas banks for ZAO PSCB clients,
• March 31, 2005 – ZAO PSCB becomes an associated member of the international payment system “Visa International”,
• October 11, 2005 – the Bank opened the first additional office №1 under the Moscow Branch of ZAO PSCB at the address: 17 Perevedenovsky Pereulok, building 1, 105082 Russia in order to improve the level of services granted to the clients,
• October 28, 2005 – the General Administration of the CB RF in St. Petersburg registered the 11-th issue of ZAO PSCB shares in the amount of RUR 70 million,
• November 2005 - the Bank started participating in the payment system “Customs Card” and obtained a right to issue cards of the payment system for its clients. Customs Card of ZAO PSCB can be issued both to legal entities that participate in the foreign economic activities, and to physical persons,
• ZAO PSCB has become a participant of the IFC program “Russia Banking Corporate Governance Project”, and brought the Charter and internal documents in correspondence with the best international practice of corporate governance,
• ZAO PSCB concluded a contract with the IFC on participation of the Bank in the IFC’s Working Group “SUPER” (“Standards and Unification of the Primary Market”). The collaboration consists of analyzing ZAO PSCB’s internal credit and normative documentation and preparing recommendations by the IFC experts with regard to mortgage credits to be granted by the Bank.