PSB Expands Banking Services in Russia's New Regions and Eyes Africa
PSB Deputy Chairman Dorofeyev: Our bank is present even in dangerous areas of Russia’s new regions
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PSB Deputy Chairman Mikhail Dorofeyev announced the bank's expansion into Russia's new regions, with 456 offices serving nearly 3 million clients. The bank aims to enhance cross-border payments and plans to establish a presence in 20 African countries within two years.
- 01PSB has established 456 offices in Russia's new regions since June 2022, serving almost 3 million individuals and over 110,000 legal entities.
- 02The bank operates in 147 localities, including high-risk areas like Kakhovka and Novaya Kakhovka.
- 03PSB's international operations include the A7 platform for cross-border transfers, focusing on currencies such as the yuan, dirham, and ruble.
- 04By the end of 2025, PSB expects over 85% of its transaction turnover to involve the ruble and currencies from allied nations.
- 05The bank plans to open offices in 20 African countries over the next two years, marking a strategic expansion into the continent.
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The Russian bank PSB has significantly expanded its operations in the new regions of Russia, establishing 456 offices since June 2022, according to Deputy Chairman Mikhail Dorofeyev. The bank now serves nearly 3 million clients and over 110,000 legal entities across 147 localities, including high-risk areas like Kakhovka and Novaya Kakhovka. In addition to domestic growth, PSB is enhancing its international operations through the A7 platform, which facilitates cross-border payments primarily in the yuan, dirham, and ruble. Dorofeyev noted that by 2025, more than 85% of transaction turnover is expected to involve these currencies. Furthermore, PSB is eyeing Africa as a strategic market, planning to open offices in 20 countries on the continent within the next two years. Dorofeyev also highlighted the role of artificial intelligence in banking operations, emphasizing its utility in data processing and routine tasks, rather than as a replacement for human workers.
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PSB's expansion in new regions enhances access to banking services for millions, particularly in high-risk areas.
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