PSB Lugansk

History

2023: Joining Promsvyazbank

On July 24, 2023, Promsvyazbank (PSB) announced the completion of the accession procedure of the State Bank of the Luhansk People's Republic (PSB Lugansk LLC). As a result of this merger, the total customer base of PSB in the region amounted to more than 900 thousand individuals and legal entities.

According to the PSB press service, as part of the integration, large-scale work was carried out to unite client bases, restructure business processes and centralize the banking infrastructure.

Promsvyazbank annexed the State Bank of the LPR

The accession of the State Bank of the LPR to the PSB opens up its clients the advantages of service in a federal systemically significant credit institution and expands the range of available financial services and high-tech digital services for them... PSB, having extensive experience and technologies for implementing integration projects, ensured a completely seamless process of joining the State Bank of the LPR, the PSB said in a statement.

Customers do not need to come to bank branches and re-issue service contracts. All valid cards, including salary, pension, social, as well as accounts and balances on them, were transferred to service in PSB without the need for any action on the part of their holders. Credits continue to flow to cards and accounts as usual.

The offices of the former State Bank became part of the regional PSB network, which reached 130 service points in more than 50 cities of presence in the LPR.

In November 2022, Russian President Vladimir Putin issued a decree according to which state banks acting as a regulator in the DPR and LPR should be transformed into limited liability companies and transferred to PSB Bank. The integration of the DPR Central Bank was completed in early July 2023.^[1]

Notes