HISTORY of THE BANK

Commercial bank Public Limited Company "PETRO-AERO-BANK" was established in the year 1995.

The decision to establish the Bank was taken by a group of highly motivated people, who at the time were managers of different enterprises. The main goal was to create a financial entity that can guarantee successful financial activities in the times of economical instability. As a result, a "small bank" went through all the economical crises and became a large financial organization.

PETRO-AERO-BANK has obtained the Licence of the Central Bank of Russian Federation (No. 3227) for the execution of international banking operations. The Bank also holds the Licence to participate in stock exchange markets as a broker, and to deal with deposits and activities with securities.

In the year 1997 the first Bank's branch, "Nevskoye", was opened in St.Petersburg. With the time the network of PETRO-AERO-BANK branches became one of the vast. At present, there are more than 60 branches working successfully in St.Petersburg.

In the year 1999 the Moscow branch was opened.

In the year 2001 a new Automated Banking System (ABS) was introduced to all Bank's structures. This system led to the increase of efficiency of certain operations, and towards minimising the time and cost of banking operations.

During the eight years of Bank's activity the number of the staff has increased considerably. The total number of highly qualified employees is 653, as per 01.07.2003, comparing to only 34 employees in 1997.

The main goal is to create a universal and a reliable Bank of international standards.

The business strategy of the Bank heads towards expanding of banking services and units geographically, and towards the increase of quality of our services.

Development perspectives of the Bank allow us to look into the future with confidence and optimism. It is based on our great experience, and strong technical and organisational potential.

PETRO-AERO-BANK is the bank, which works for you!