Promsvyazbank to change registration to Yaroslavl Region

YAROSLAVL. Jan 28 (Interfax) - Yaroslavl Region Governor Mikhail Evrayev and PJSC Promsvyazbank Chairman Pyotr Fradkov have signed an agreement to change the bank's legal registration, Evrayev posted on his Telegram channel on Monday.

"The document has enshrined the previously reached agreements on changing the bank's legal and tax registration," Evrayev said.

He also said that this would give the region an incentive to develop not only from an economic point of view.

"The strategic partnership provides a new level of financial services for the population; additional projects in business, culture, education, and sports; high-paying jobs; and investments in infrastructure and housing construction," Evrayev said.

Fradkov in turn said that the bank could change its registration in the near future.

"Much work is underway actually to implement the Russian president's idea, so that we become one of the companies that is registered here in the Yaroslavl Region [...]. I think we will have completed everything by the end of the quarter [Q1 2025]," Fradkov told reporters in response to the corresponding question.

The Russian government owns Promsvyazbank through the Federal Property Management Agency (Rosimuschestvo). A bank was established based on PSB to service large government contracts and government defense orders.

PSB was 5th in terms of assets in the Interfax-100 ranking prepared by the Interfax Center for Economic Analysis based on the results of Q3 2024.