Promsvyazbank (PSB) is a Russian bank founded in 1995.
Its headquarters are in Moscow.
PSB is included in the list of systemically important credit institutions compiled by the Bank of Russia, and is among the top 10 banks in the country in terms of assets.
Since 2019, PSB is the backbone bank for operations under the state defense order and major government contracts.
At the end of 2020, the bank's network had about 300 sales offices in Russia.
PSB is among the top ten banks in terms of issuing mortgages, in September 2020 it ranked ninth in the top 10 banks for issuing preferential mortgages of the State Program 2020. PSB also has about 40% of the military mortgage market.
According to the volume of the loan portfolio for small and medium-sized businesses, PSB is also among the top 5 banks in the country with a total portfolio of almost 100 billion rubles by the end of 2019.
At the origins of the bank were brothers Alexei and Dmitry Ananyev. "Promsvyazbank" received a license on May 12, 1995. Initially the bank was engaged in servicing IT and communications companies, but since 1998 it has been actively developing its international and corporate business, and in the mid-2000s it began to develop as a universal lending institution and entered the top twenty largest banks in the country.
The period from 2010 to 2015 in the history of PSB was marked by the merger and takeover of a number of other banking structures - Volgoprombank, Pervobank. During the same period - in 2014 - PSB became one of the three banks that the Central Bank of Russia recognized as systemically important.
On December 15, 2017, the Central Bank announced the bailout of PSB through the Banking Sector Consolidation Fund and its decision to introduce temporary administration in it. The Central Bank estimated additional capitalization of the bank at 100-200 billion rubles, the final amount exceeded 260 billion rubles. In May 2018, the bank's shares were transferred to the treasury of the Russian Federation; in September of the same year, the temporary administration completed its work, and the bank was headed by Pyotr Fradkov.
In May 2020, Promsvyazbank completed the merger with Svyaz-bank. After the merger, PSB's assets grew by more than 200 billion rubles.
In 2019, PSB began to implement the tasks under the national projects "Small and medium-sized enterprises and support for individual entrepreneurial initiative", "Healthcare", "Digital economy of the Russian Federation" and "Demography".
In 2020, the bank financed small and medium-sized businesses for a total of 50 billion rubles as part of the government anti-crisis programs adopted to support the economy against the backdrop of the coronavirus pandemic, and provided over 6.5 thousand loans worth over 21 billion rubles under the government program of preferential mortgages.
In the spring of 2021 "Roskosmosbank" was merged with "Promsvyazbank", serving the 120 companies which are part of "Roskosmos", and about 200 thousand employees of this State Corporation. Since March 29, 2021 PSB is listed "in the process of reorganization in the form of joining to other legal entities.
The government of the Russian Federation plans to recapitalize Promsvyazbank in 2022 from the budget funds in the amount of 13 billion 731 million rubles. In 2020, the bank has already received state support in the amount of 25 billion rubles.