Russia's government together with the Bank of Russia appointed PJSC Promsvyazbank as the main bank for Armed Services Procurement operations and major state contracts, the country's Finance Minister Anton Siluanov said.
"In accordance with the decision to create a base bank for the implementation of operations on Armed Services Procurement and major government contracts, the Russian government together with the Bank of Russia, picked PJSC Promsvyazbank as the responsible bank," TASS cited the minister as saying.
According to him, the bank’s size, an extensive branch network and a number of other characteristics optimally suit for the role of a base bank in dealing with government defense contracts and major government contracts.
Silanov added that Promsvyazbank will be chaired by Pyotr Fradkov, who is the current head of the Russian export center
