PROMSVYAZ : Promsvyazbank completes the integration of Pervobank

On 1 July 2016, Promsvyazbank completed the integration of Pervobank and assumed all obligations to the customers transferred to Promsvyazbank as part of the merger.

All previous services provided to Pervobank's customers remain in place under the same terms and conditions, with no need to replace the existing contracts. The banks have completed the merger of their databases and product lines, so the process will not cause any inconvenience to the customers.

As part of the integration, Promsvyazbank has incorporated Pervobank's assets worth RUB 36.5 billion. Promsvyazbank's deposit portfolio has increased by RUB 23.4 billion. 8,000 legal entities and 450 thousand individuals (Pervobank's clients) became customers of Promsvyzbank.

Starting from 1 July, all branches of Pervobank will operate under the new brand, keeping the usual opening hours for the customers' convenience. The branch network in the Samara Region will add 16 new offices, with the total number of offices reaching 22.

"Pervobank has an extensive high-quality customer base in Samara. Once the merger with Promsvyazbank is completed, the customers will have all the advantages of being serviced by a systemically important bank, as well as access to more technologically advanced banking products and services and an extensive service network. The risk models tested at Promsvyazbank will enable us to offer lower rates and customised solutions," said Aleksandr Chernoshchekin, Vice-President at Promsvyazbank.