Petersburg Social Commercial Bank OJSC is highly interested in establishing correspondent relationships and blank credit facilities for trade finance and documentary business with our current and potential banks-partners globally where our customers have contracts and business interests with their counterparts.

It should be noted, that our Bank is highly interested in opening USD correspondent account with a reliable international banks head-quartered in the USA and in the People’s Republic of China, and we are prepared to consider Terms & Conditions for the account opening.

In November 2008 Petersburg Social Commercial Bank, OJSC has opened correspondent accounts in USD and EUR with the German bank-partner HELABA Landesbank Hessen-Thuringen (head-quartered in Frankfurt-am-Main), as well as an EUR correspondent account with another German bank-partner Bayerische Hypo- und Vereinsbank AG (having its head-quarters in Munchen) in order to receive new opportunities for financing foreign trade contracts of our Bank’s customers. In February 2009, our Bank has also opened EUR account with Hellenic Bank Public Limited Company to support our clients business with Cyprus.

In 2007 PSCB launched its global trade finance business successfully and received blank credit facilities for short-term trade finance services and documentary operations with the following foreign banks during 2007-2008: Commerzbank AG (Germany), VTB Bank (Deutschland) AG, LHB Internationale Handelsbank AG (Germany), Raiffeisen Zentralbank Osterreich AG (Austria), Oberbank AG (Austria). As at 01 January 2009, portfolio of global trade finance transactions of PSCB totaled approximately USD 10 Mln.

On the other side, PSCB also started developing long-term ECA-covered finance and international project finance for our Russian clients jointly with our foreign partners, such as WorldBusiness Capital, Inc. (USA), UPS Capital Business Credit (USA), AKA Export Finance Bank (Germany), Commerzbank AG (Germany) and IKB Deutsche Industriebank AG (Germany).

In February 2007 PSCB signed a Framework Loan Agreement with its German partner AKA Export Finance Bank - under the Agreement PSCB and AKA Export Finance Bank (a specialized German bank for export financing) jointly grants medium-term special purpose loans covered by the German Export Credit Agency Euler Hermes Kreditversicherungs-AG both in US dollars and EURO to the Russian importers.

On 26 November 2007, PSCB signed an Agreement with the U.S. bank-partner – UPS Capital Business Credit for financing import of U.S. goods and equipment secured by the Export-Import Bank of the United States of America (Ex-Im Bank of the USA). UPS Capital Business Credit and PSCB, in accordance with the signed Agreement, intend to provide mid-term special loans secured by the U.S. export credit agency - the Export-Import Bank of the United States of America in USD (for purchase of U.S. made goods and equipment) to Russian importers. Credit Facility amounts in total USD 5,000,000 under the Agreement between UPS Capital Business Credit and PSCB.

PSCB has been developing our well-established and successful co-operation with European banks-partners in the recent years, therefore, currently PSCB is also focused on establishing correspondent relationships and bank-to-bank co-operation with the banks doing business in the Asia-Pacific Region, Northern American and Latin American countries and Middle East and North Africa region, where our Russian customers purchase and import goods/products and our Bank doesn’t have relationships for the time being. On the other hand, PSCB is also interested in making business with the foreign banks-partners and development banks which support their customers in Russia and contribute to development of bi-lateral trade between their home countries and Russia.