Promsvyazbank acquired the former Central Bank of the DPR and LPR

Promsvyazbank (PSB) completed the purchase of PSB Donetsk and PSB Lugansk banks, owned by the DPR and LPR. The transactions were made under the decree of the President of the Russian Federation, which provides for the sale of 100% of the shares of the former central banks of the republics to PSB and their further merger with Promsvyazbank.

The agreements were signed by PSB Chairman Petr Fradkov, Chairman of the State Property Fund of the DPR Sergey Kaida and Acting Chairman of the State Property Fund of the LPR Valery Kravchenko in the presence of Acting Head of the DPR Denis Pushilin, Chairman of the DPR Government Vitaly Khotsenko and Acting Head of the LPR Leonid Pasechnik, Chairman of the State Duma Committee on Industry and Trade Vladimir Gutenev.

Thanks to the acquisition of PSB Donetsk and PSB Lugansk by Promsvyazbank, the bank’s service network in these regions will almost double and exceed 350 sales offices throughout the republics. The client base will be about 3 million individuals and over 17 thousand legal entities.

Denis Pushilin reported in his Telegramthat Promsvyazbank in the DPR currently has 84 branches in 25 settlements.

During the operation of the PSB on the territory of Donbass, more than 300,000 individuals and almost 16,000 legal entities have been transferred to the bank for servicing. Citizens opened more than 480 thousand accounts, clients from small and medium-sized businesses – more than 16 thousand. Over 250 thousand cards were issued to individuals, including salary cards, about 15 thousand to businesses.

Daria Erozbek