Donetsk, Dec 13 — DAN. Promsvyazbank’s network in the new regions has expanded to 200 offices, the Bank’s press service reported on Tuesday.

“Promsvyazbank (PSB) continues to expand its presence in the new Russian regions; the number of PSB outlets in the Donetsk and Lugansk People’s Republics and Kherson and Zaporozhye regions reached 200 as the Bank launched its office at 34 Universitetskaya Street in Donetsk, ” the press service said.

PSB opened its offices in 86 settlements within a short period offering reliable and fail-safe service to various groups of clients and providing banking support of social functions.

Earlier, Russian President Vladimir Putin signed a decree on handing over the state banks of the Donetsk and Lugansk People’s Republics to Promsvyazbank. These banks, within three months from the decision-making date, have to conclude an agreement with the Central Bank of Russia on establishing Central Bank’s regional divisions, register them in accordance with Russian laws as limited liability companies and sell 100 percent of their shares to PSB at a symbolic price.

Promsvyazbank was established in 1995. Its head office is located in Moscow. It is in the top ten of Russian banks by the size of assets. PSB is a strategic loan organization and a base bank for defense orders operations. In early June, 2022 the Bank obtained a permit to operate in the DPR.*jk