Promsvyazbank issues loans at rates below government’s targets


Promsvyazbank supports all the industries in which the banks are working, bank’s CEO Petr Fradkov said at a meeting with Vladimir Putin, presidential web page reports. According to Fradkov, “These are small- and medium-sized businesses. We know them well and we are one of the leaders in granting e-guarantees to these companies that are involved in public purchasing.”

The bank is also attempting to support private individuals. “As for low interest rate mortgages, we have even made further commitments and issued loans at 5.85%, which is 0.75% lower than in the government’s normative acts,” Promsvyazbank CEO said.

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