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June 3, 2021

Rosseti and PSB have signed an agreement on comprehensive banking services

PJSC Rosseti and PSB have signed an agreement on strategic cooperation in the framework of the business program of the St. Petersburg International Economic Forum. The document was signed by Andrey Murov, First Deputy Director General - the Executive Director of PJSC Rosseti, and Petr Fradkov, Chairman of PSB, on the part of the bank. 

Under the terms of the agreement, PSB shall provide comprehensive banking services to the company and its subsidiaries. Thus, the bank will provide financing of their operating activities and investment projects, including with the help of capital market instruments, provide bank guarantees and letters of credit, escrow agent services, leasing, cash settlement and factoring services, as well as banking support for contracts. 

In addition, the parties agreed on cooperation within the framework of consumer and mortgage lending programs for the company's employees and on the introduction of modern technologies for managing Rosseti's financial resources to improve the efficiency of its operations, including the use of modern digital technologies and platform solutions. 

Under the agreement, the bank also participates in the development and implementation of integration solutions for Rosseti's accounting systems based on Host-To-Host technologies, and in digital transformation processes, including cooperation in the application of blockchain technologies in the electric power industry. 

Rosseti Group is interested in developing relations with Russia's leading financial institutions. We see PSB as a reliable partner who has proven itself in effective solution of the issues related to ensuring the operating activities of Rosseti Group, regional development, and international cooperation. We expect that the signed agreement will allow us to bring our cooperation to a new level due to the introduction of advanced information technologies and banking products," Andrey Murov said. 

"Provision of services to companies in the energy sector is one of the priority areas for PSB, and we intend to systematically expand our cooperation with the market leaders. This agreement confirms the status of PSB as a captive bank of one of the largest electric grid operators in the world. We plan to continue offering the company the optimal financial solutions, contributing to the implementation of its strategic objectives on expanding its business in the Russian and international markets," Peter Fradkov said.




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