Key facts
- PSB bank has established 456 offices in Russia's occupied Ukrainian regions since June 2022.
- The bank serves nearly 3 million individuals and over 110,000 legal entities in these territories.
- PSB operates in 147 localities, including dangerous areas like Kakhovka.
- The bank's A7 platform facilitates cross-border payments primarily in yuan, dirham, and ruble.
- PSB plans to open offices in 20 African countries within the next two years.
PSB bank has significantly expanded its operations in the territories Russia claims as its 'new regions' since June 2022, according to Deputy Chairman Mikhail Dorofeyev. The bank now operates 456 offices across 147 localities in these areas, including dangerous zones like Kakhovka and Novaya Kakhovka, effectively establishing a Russian banking system. It serves nearly 3 million individuals and over 110,000 legal entities. Dorofeyev also highlighted the bank's international activities through its A7 platform, which handles cross-border transfers primarily in yuan, dirham, and ruble, with an expected turnover of over 85% in these currencies by the end of 2025. Looking ahead, PSB views Africa as a strategic growth area, planning to open offices in 20 countries on the continent within the next two years. Dorofeyev also commented on the use of artificial intelligence in banking, emphasizing its role as a tool for data processing and routine operations rather than a replacement for human staff.