Promsvyazbank, founded in 1995, is one of the leading privately-owned universal commercial banks, with total assets of RUB 524 bln and total capital of RUB 64.4 bln under IFRS as of 1 October 2011. The total number of clients (legal entities) exceeded 103,000, while the number of retail customers approached 1 million. As of December 1, 2011 holding company Promsvyaz Capital B. V. owns 72.93% of the bank; Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake; and the European Bank for Reconstruction and Development owns the remaining 11.75%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service and “BB-” from Fitch Ratings. As of December 1, 2011, PSB had a network of over 260 points of sale in Russia, as well as an overseas branch in Cyprus, and representative offices in China, India, Ukraine and Kazakhstan.