OREANDA-NEWS. On 27 February 2008 was announced, that Promsvyazbank (PSB) plans to increase its branch network by 50% in 2008.

Branches will be opened in Kazan, Lipetsk, Murmansk, Penza, Tver, Syktyvkar, and Stavropol, bringing the number of the Bank’s regional branches in Russia to 49. The opening of offices of various formats will raise the total number of banking outlets from 255 as of 1 January 2008, to 385 by year-end 2008.

In 2007, the number of PSB’s offices increased by 41%. PSB’s offices now function in more than 90 locations throughout Russia.

In December 2007, PSB was awarded the National Banking Prize for Branch Network Development. The award was founded by the Association of Russian Banks and the National Banking Journal.