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 rapid growth has been fueled by a significant investment in its branch network, which has ballooned to 456 offices, serving nearly 3 million individual clients and over 110,000 legal entities. This expansion has effectively created a Russian banking system in these previously underdeveloped territories.
Mikhail Dorofeev, PSB Deputy Chairman, revealed that the bank has been operating in challenging areas, including Kakhovka and Novaya Kakhovka, where offices remain open despite the risks. This bold move demonstrates PSB's commitment to providing essential banking services to these communities.
PSB is also making waves in international banking, leveraging its A7 platform to facilitate seamless cross-border transfers. This innovative service has become a shining example of a successful public-private partnership, with the bank processing transactions in key currencies such as the yuan, dirham, and ruble.
A striking 85% of PSB's payments now involve the Russian ruble and currencies of friendly states, a trend that is expected to continue. As the bank looks to the future, Dorofeev hinted that Africa will become a major focus, with plans to open offices in 20 countries on the continent over the next two years.
Artificial intelligence is also being harnessed by PSB, but Dorofeev emphasized that it will be used as a tool to augment human capabilities, rather than replace them. AI will be deployed to process large volumes of data and automate routine tasks, freeing up staff to focus on higher-value activities.
