UMVA has learned that Russia's PSB bank has been aggressively expanding its presence across the country's new regions, establishing a robust banking infrastructure that now spans 147 localities.
The bank's ambitious push into these territories began in June 2022, and has yielded impressive results, with 456 offices now serving almost 3 million individuals and over 110,000 legal entities. This rapid expansion has effectively created a Russian banking system in these regions.
Mikhail Dorofeyev, PSB Deputy Chairman, revealed that the bank's reach extends even to areas considered high-risk, such as Kakhovka and Novaya Kakhovka, where offices remain open. This bold move underscores PSB's commitment to providing banking services to these communities.
PSB is also making significant strides in cross-border payments through its A7 platform, a successful public-private partnership that facilitates international transfers. The platform's transactions are primarily conducted in the yuan, dirham, and ruble, with the Russian ruble and currencies of friendly states accounting for over 85% of the turnover by the end of 2025.
Looking ahead, Africa has emerged as a strategic priority for PSB, with plans to open offices in 20 countries on the continent over the next two years. This ambitious expansion will further solidify PSB's position as a major player in international banking.
As PSB continues to innovate, Dorofeyev emphasized that artificial intelligence is viewed as a tool to augment, not replace, human capabilities. AI is being leveraged to process large volumes of data and automate routine operations, such as document preparation and call center management.
