Donetsk, Oct 11 — DAN. Russia’s Promsvyazbank (PSB) has set up more than 1,300 payment terminals in the Donetsk and Lugansk People’s Republics, the Bank’s press service reported on Tuesday.

“PSB continues to develop banking services for businesses and the population of the Donetsk and Lugansk People’s Republic: the Bank has activated more than 1,300 payment terminals for small and medium businesses in both regions. It makes retail outlets’ operations faster and more convenient,  minimizes the use of cash and raises the quality and availability of financial services to an entirely new level, ” the press service said.

The number of PSB clients in the Republics is steadily increasing, it added.

“Promsvyazbank, as the first Russian strategic bank which launched all-in-one banking for DPR/LPR businesses and residents, will continue to phase in more of its products and services, ” the PSB said.

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 since 2019. In the beginning of June, 2022 the Bank obtained a permit to operate in the DPR.*jk