WASHINGTON, D.C. -- PSC Prominvestbank, a leading industrial, commercial and investment bank, with operations in Kyiv and a wide branch network throughout Ukraine, has been approved for membership in the U.S.-Ukraine Business Council (USUBC), the USUBC executive committee announced today on behalf of the entire USUBC membership of 146 companies and organizations who have business operations, investments or other development programs in Ukraine.

Prominvestbank has 88 years of experience on the Ukrainian financial market.  They have banking relationships with many large corporate customers, including some of the largest industrial enterprises in Ukraine in machine building, metallurgy, fuel and energy, transport, etc.  The Bank serves 110 thousand corporate and 4 million individual customers. The bank has an experienced management team with extensive banking knowledge. 

In 2009 Prominvestbank was purchased by State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)," Russian Federation. In 2009 Prominvestbank received from Vnesheconombank long-term loans and investments in capital in the total amount of USD 1.6 billion. 

This support strengthened the financial position and increased the volume of business activity.  Ninety-two percent of the banks credit portfolio is with corporate clients.  The bank's distribution network in Ukraine includes 373 points of sales.

Among Ukrainian private banks Prominvestbank is ranked #2 by Loans to Corporates, #4 by Customers’ Accounts and Equity, and #6 by Total Assets.

Prominvestbank is working with the Export-Import Bank of the United States, http://www.exim.gov/, and other international financial institutions to start organizing structured trade credit packages for U.S. exporters who are shipping to their distributors and clients in Ukraine.  They are one of the first Ukrainian banks that has the capacity and strength to get back into financing imports and is especially interested in working with U.S. exporters who are selling to their dealers and distributors in Ukraine.

PROMINVESTBANK AND USUBC
USUBC has been working closely with Alexander Chaynikov, Deputy Chairman of the Management Board, Prominvestbank. Alexander was in Washington, D.C. recently meeting with various financial institutions.

Alexander and his colleagues made a presentation about Prominvestbank at the USUBC sponsored workshop in Kyiv on the "U.S. Commercial Service and Financing Programs for U.S. Exporters" and attended a USUBC sponsored luncheon with U.S. Ambassador John Tefft. Alexander Chaynikov will represent Prominvestbank on the USUBC board of directors.

"USUBC looks forward to working with Alexander Chaynikov and his colleagues at the Prominvestbank.  We are pleased they are interested in working with U.S. financial institutions regarding ways to finance U.S. exports and other business transactions between Ukraine and the U.S., " said Morgan Williams, Director, Government Affairs, Washington Office, for the SigmaBleyzer Private Equity Investment Management Group, who serves as President of the U.S.-Ukraine Business Council (USUBC).

INFORMATION: Additional information about the Prominvestbank may be found at: http://www.pib.com.ua/index.php.en.

USUBC MEMBERSHIP EXPECTED TO REACH 150 BY END OF 2010
USUBC now has one-hundred forty-six members.  Membership in January of 2005 was eight and in January of 2007 was 22.  Membership is expected to reach 150 by the end of 2010.  The complete list of USUBC members can be found at: http://www.usubc.org/members.php. For a list of the USUBC board of directors go to the following link: http://www.usubc.org/site/u-s-ukraine-business-council-board-of-directors.