Donetsk, Feb 3 — DAN. Russia’s Promsvyazbank (PSB) which operates 84 offices across the Donetsk People’s Republic has acquired “PSB Donetsk” Ltd, DPR Acting Head Denis Pushilin said on Friday.

Earlier in the day, Pushilin met with Russian Deputy Finance Minister Alexey Moiseyev, head of the Russian parliament committee on industry and trade Vladimir Gutenev, PSB Chairman Petr Fradkov and Bank of Russia deputy governor Sergey Belov. The parties discussed the prospects for developing the DPR banking sector.

“PSB currently operates 84 offices in 25 DPR settlements. It has acquired ‘PSB Donetsk’ which will increase the number of PSB offices and availability of banking services to DPR customers, ” Pushilin said.

There is a great demand in the Republic for financial services such as consumer loans or mortgage loans at 2 percent for the new regions suggested by Vladimir Putin, he said noting an expanding ATM network and a broader range of services for legal entities.

Promsvyazbank (PSB) 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 the beginning of June, 2022 the Bank obtained a permit to operate in the DPR. On January 18, the DPR parliament adopted the law regulating the restructuring of the Central Republican Bank into a limited liability company for subsequent acquisition by Promsvyazbank.*jk