OREANDA-NEWS. Sberbank of Russia and PSN Group signed a strategic cooperation agreement. The agreement was signed by Deputy Chairman of the Executive Board of Sberbank and Head of Sberbank CIB Oleg Ganeev, and President of PSN Group Maxim Gasiyev.

According to the arrangement, PSN Group will consider Sberbank as a strategic partner for financing up to RUB 16 bln of future real estate construction projects in Moscow. The agreement also envisages financial and advisory services, including those provided by Sberbank CIB, the corporate and investment banking business of Sberbank. The parties expressed interest in developing cooperation in areas such as comprehensive servicing of bank accounts, modern methods for managing financial resources and products, etc.

"PSN Group is a key client," commented Oleg Ganeev, Deputy Chairman of the Executive Board of Sberbank and Head of Sberbank CIB. "We value our experience of working on joint projects with PSN Group and intend to develop this cooperation. As a result, a large number of high-quality living areas will be created in Moscow and the Moscow Region."

Sberbank and PSN Group have worked together since 2011, successfully realising the following residential and commercial projects: financing of the construction of the "Polyanka/44" elite housing complex in Moscow, refinancing secured by "Alpha Arbat Centre" BC, "Novospassky" BC and "Nizhegorodksy" BC. In the near future it is planned to sign an agreement on the financing of construction of premium-class real estate complex "I'M" on Moscow's Shlyuzovaya Embankment.

Maxim Gasiyev, President of PSN Group, commented: "Sberbank is a major and reliable partner that has made big achievements on both the retail and corporate market. For us, cooperation with a partner like this is a testament to the investment quality of our projects. PSN Group plans to complete several residential projects at the same time because we are certain that our cooperation with Sberbank will only get bigger."