January 19, 2018 / 9:22 AM / a year ago

Russia's Promsvyazbank chosen to service Russian defense sector

MOSCOW, Jan 19 (Reuters) - Russian Promsvyazbank was chosen to service the defense sector, the finance ministry said on Friday.

Promsvyazbank is a large bank with a wide network of branches, the ministry said in the statement.

Pyotr Fradkov, the head of the Russian export center and a son of a former head of Russia’s foreign intelligence service Mikhail Fradkov, is planned to be appointed as the bank’s head, the ministry said. (Reporting by Darya Korsunskaya; Writing by Polina Nikolskaya; Editing by Katya Golubkova)

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