Its bondholders could lose more than $1 billion

K5M = 7.3/10

Updated May 2021

151 reviews

(4.56 out of 5)

Detailed information about Promsvyazbank (general license of the Central Bank of the Russian Federation No. 3251), founded on May 12, 1995. On the page you will find a list of the most popular lending programs, deposits and other bank products. Honest ratings and reviews for each offer.

About the broker

Terms of service and tariffs

Promsvyazbank has two main tariff plans. The first one calculates commissions based on daily trading turnover, and the second one – based on the volume traded for the month. They even have corresponding names: “PSB day” and “PSB month”. The principle is simple: the more volume an investor trades, the fewer service commissions he pays to the broker.

In addition, the tariff line includes service options with the names “Investment consulting” and “Management company”. According to these tariffs, the client receives more detailed financial support, specific investment strategies, and in return the investor is required to pay higher commissions.

Promsvyazbank broker gives discounts to loyal clients. Every six months, service becomes cheaper by 1%, until the total discount to the tariff is 10%.

Broker Products

In addition to standard brokerage services, including Internet and mobile trading, Promsvyazbank is ready to offer a number of other services. These include the activities of managers, mutual funds, insurance instruments, and structured products for wealthy clients.

1. Own products. One of the most popular products of the Promsvyazbank broker is mutual funds. These collective investment instruments provide high diversification of assets with a low financial entry threshold. Participants in the Orange Premium Club program - Promsvyazbank's premium service - can count on individual investment offers in instruments with increased protection against the risk of losses.
2. IPO. Applications for participation in the IPO are considered individually for each client.
3. Promsvyazbank has its own pension fund and prolongs the accumulation of funds on its basis, arguing that it is possible to receive additional investment income in the amount of pension savings during the period of storage of funds.

general information

The bank was founded in 1995 on the initiative of the Moscow Intercity and International Telephone organization. Its first participants were legal entities, including several communications companies. In 2001, the credit institution was reorganized into a CJSC, and in 2007 into an OJSC. Since 2004, the financial institution entered into the compulsory deposit insurance system. In 2010, its regional subsidiary banks - Volgoprombank, Nizhny Novgorod Bank, and Yarsotsbank - were merged with the credit organization. In 2015, 10% of the shares of Promsvyazbank were acquired by OJSC Blagosostoyanie OPS. In the same year, another 10% of the shares were acquired by a group of non-state pension funds.

In 2015, the DIA conducted a competitive selection, as a result of which Promsvyazbank was chosen as an investor for the reorganization of AvtoVAZbank. In the same year, the Central Bank agreed to Promsvyazcapital to purchase more than 70% of Vozrozhdenie's ordinary shares. The purchase cost the owners of Promsvyazbank more than $200 million. At the end of 2021, Promsvyazcapital structures owned 55.25% of the shares of Vozrozhdenie Bank. In 2015, Promsvyazbank acquired 86.54% of the shares of Pervobank.

At the end of 2021, the Central Bank transferred Promsvyazbank for reorganization to the Banking Sector Consolidation Fund. In 2021, the Minister of Finance announced the creation of a support bank on the basis of Promsvyazbank, which is being rehabilitated, to service state defense orders. A little later, information appeared that up to 1 trillion could be transferred to the credit institution’s balance sheet. rubles of loans that were issued to defense industrial enterprises. It was planned to do this as part of the transfer to the bank of assets that were associated with companies included in the US sanctions list.

In 2021, Vladimir Putin signed a law on the transfer of Promsvyazbank to Rosimushchestvo. In March of the same year, DIA bought out additionally issued shares of Promsvyazbank, additionally capitalizing it by 113.4 billion rubles. As a result of the transaction, DIA became the owner of 99.99% of the bank's shares. In 2021, almost 100% of PSB shares were transferred to the state treasury. At the end of 2021, Vladimir Putin signed a federal law granting Promsvyazbank the status of a supporting bank of the defense industry. At that time, the credit institution already served more than 80% of enterprises and companies in the defense industry sector and more than half of the total volume of government defense orders.

In May 2021, Svyaz-Bank was merged with Promsvyazbank. In accordance with the resolution of the Government of the Russian Federation dated April 4, 2019, Promsvyazbank does not disclose its reporting and information on the composition of shareholders on the Central Bank website. In December 2021, PSB bought out Roscosmosbank, which remained as a separate bank within the financial group.

The full stake in PSB belongs to the Russian Federation represented by the Federal Treasury. According to information as of December 2021, the chairman of the bank’s board is Petr Mikhailovich Fradkov.

The credit institution's head office is located in Moscow and also has a representative office in Beijing. In addition, there are 9 branches, 172 operational offices, 120 additional offices and 4 operational cash desks outside the cash desk in the regions. Promsvyazbank operates on the basis of the general license of the Central Bank of the Russian Federation No. 3251 dated December 17, 2014.

Promsvyazbank serves individuals and legal entities, as well as financial institutions. The credit institution offers private clients:

• Loans, including express lending programs, mortgages and refinancing
• Deposits
• Visa services
• Tax refund
• Legal support
• Individual bank cells
• Electronic cells
• Transfers from card to card
• Currency exchange
• Brokerage services
• Mutual investment funds (UIFs)
• Individual investment accounts
• Depository services
• Credit, debit, salary and pension cards, as well as cards for military pensioners
• Savings accounts
• Payment of bills
• Transfers within Russia and abroad, including from card to card
• Insurance
• Accounts for self-employed
• Manage accounts and services using mobile and online banking

Available to corporate clients:

• Current accounts
• Special accounts
• Collection
• Separate accounts for the State Defense Order
• Customs cards
• Business cards
• Travel cards MIR Premium Business
• Business loans
• Overdraft
• Trade acquiring
• Cash decisions 54-FZ
• Internet acquiring
• Business registration
• Salary service Salary PRO
• Salary projects
• Bank guarantees
• Investments
• Deposits
• Electronic cash collector
• Internet accounting
• Currency operations
• Legal services
• Financing
• Foreign trade services
• Currency control
• Domestic and international factoring
• International funding
• Transfers in foreign currency
• Conversion operations
• Hedging
• Dual currency deposits
• Securities-based financing
• Debt financing
• Depository services
• Operations with precious metals
• Operations on the foreign exchange market
• Managing accounts and services using remote services

The bank offers financial institutions:

• Settlement and cash services
• Currency control
• Domestic factoring
• International factoring
• International funding
• Transfers in foreign currency
• Conversion operations
• Hedging
• Dual currency deposits
• Securities-based financing
• Syndicated lending
• Providing guarantees
• Debt financing
• Depository services
• Operations with precious metals
• Operations on the foreign exchange market
• Structured Products
• REPO
• Brokerage services
• ESCAR

In addition to the above, Promsvyazbank offers clients services within the framework of Private Banking. It includes:

• Premium deposits
• Foreign exchange operations, investment services and lending on special terms
• Rent of bank safes
• Personal manager
• Concierge service
• Escort and delivery of valuables
• Auto concierge
• Notary Services
• Tax and legal advice
• Exclusive holiday conditions at Russian resorts
• Hotel room reservation services and escort services
• Help in choosing gifts
• Special privileges from world fashion houses and designers
• Maintaining beauty and health in leading centers in Russia and the world
• Premium cards
• VIP service units

Promsvyazbank received the “Leader in Online Lending for SMEs” award at the III annual forum FinSME-2019 “Ecosystems and Digitalization”. In 2021, PSB Internet Bank entered the TOP 3 best Internet banks in Russia in terms of digital office level according to the Markswebb agency. The mobile bank is also included in the TOP 10 best in the Russian market for entrepreneurs and business managers according to Markswebb.

In 2021, the bank took 4th place among Russian banks in terms of the volume of the loan portfolio of small and medium-sized businesses, according to the Expert RA agency. In the second half of 2021, it entered the TOP 10 largest banks in Russia in issuing mortgage loans according to Rusipoteka. Based on the results of work in 2021, it took 3rd place in the category “Best Bank in the Premium Banking Segment” (according to the results of a study by Frank Research Group). In 2017, Promsvyazbank entered the TOP 3 best Russian Internet banks.

Expert RA Agency assigned the credit institution a ruAA rating with a stable outlook. Moody's rating is Ba3 with a positive outlook.

Working with a broker

Opening an account is not difficult. Looking ahead, I will say that specialists in opening brokerage accounts at regional points of sale are not very well trained and competent. Therefore, if you have questions, it is better to solve them not in a bank branch, but through online support. In terms of consulting component, Promsvyazbank is inferior to many other brokers.

Registration on the official website

First, you should go to the psbank ru website, fill out all the necessary registration forms, and fill out an application to open a bank and brokerage account. When an investor has his own personal account, he can go to a special page for brokerage services.

Instructions for opening an account

Broker Promsvyazbank provides the opportunity to open an account online if the client has a confirmed account on the State Services website. To do this, you should send a request or order a call from a manager, or contact one of the Promsvyazbank branches to complete documents. You should have identification documents, Taxpayer Identification Number, and insurance certificate with you.

The broker does not have a minimum amount to open an account, so you can top up your account after registering on the exchange. If all procedures are completed correctly, then the next day the investor will have access to exchange trading.

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Demo account

The broker does not allow you to open a demo account.

Account replenishment and withdrawal of funds

Upon registration, two accounts are automatically opened for the investor: one bank account, the other brokerage account. Transfers between these accounts within the Promsvyazbank system are always free. The best option is if the investor has a valid Promsvyazbank card. Then the transfers will be fast and without commissions.

Although you can replenish a brokerage account from any bank card, interest will be charged for withdrawals to a card from another bank. You can withdraw money and top up your account through a cash desk at any branch of Promsvyazbank for free.

Technical support

The broker does not have any special online chats. All questions regarding service and technical components are asked through the Promsvyazbank hotline.

Pros and cons of the company

The main advantage of the broker is low commissions and the absence of fixed fees for servicing the client’s account and positions. The broker's margin trading rate is conservative, ranging from 10.25% per annum. The strength of Promsvyazbank is the analytical support of its clients.

The disadvantages include the low level of service and the lack of a demo version of trading. But the main disadvantage of the broker is the inability to trade foreign instruments, Eurobonds and ETFs.

Promsvyazbank bonds

From what has been said: I tolerated the unification.
You know, not everything is so hopeless (following the post of Otkrytie Holding OpenHOLD, December 22, 2017), K This applies not only to Otkritie Holding clients. I warn you that, based on the dynamics of events, I have made edits (abbreviations) to the text that correlate with changes in the original source. I think it will only get better from this. I'll be honest: you have a chance. In the sense - different from zero. Especially if you behave correctly. How? I'll drop a couple of lines. About practice in such cases.

Firstly, unite. Really. At least until the “initiative group”, where more than 50% of the votes should have sane people who have invested in the project, attention: big, but not the last (this is extremely important) money. Secondly, take advantage of the moment. He is successful. There may not be another one. And this moment has a name - “electoral”. True, its significance will drop by orders of magnitude in less than 3 months. We have to hurry. Thirdly, look for allies. Off the top of my head – victims of the collapse of Ugra, clients of PSB (“Subboardists, EPT, all investors – unite”!). Apparently there will be a lot of these too. But! With a sense of proportion. IMHO it is advisable (to begin with, at a minimum) to limit your circle “institutionally” - to the “Group of BOMP comrades.” Fourth, set realistic goals. Let me explain – don’t be obvious idiots. Speaking of best practices. One of them is Rustam Tariko’s behavior with BRS bonds. By the way, he is taking advantage of the situation that happened to you. Telling investors: it’s either a big deal now or a tit (in batter) on the horizon. Investors are impressed by the choice. They are underway. And where should they go, to be honest? You can also say: “why are they making us idiots, thereby undermining the (domestic!) debt market, the investment climate, the well-being of young families left without a breadwinner with seven disabled children and a mortgage in hand (the list goes on). Oh, yes - discrediting the image of a great, powerful and united Russia. Further, returning to the practice of them. Rustam (Tariko). We must give him credit, the guy not only racks his brains, but also really pulls out his “object.” The bank is no longer in the same bad position as it was a couple of years ago. He has, he has prospects. This is an EXAMPLE!.. Within the framework of which it is reasonable to ask a number of questions/suggestions: - money, where did our money go! And, gentlemen Belyaev, Alekperov, Nesis, Mamut, Aganbegyan (the list goes on)?.. And why should the Central Bank (FKBS) now uncontrollably dispose of these funds? In a word: “We will put the Central Bank under public investment control (DIA, FCBS, the list goes on). — how diamond mining is doing there, Rosgosstrakh insurance, etc. And give us, in return, at least their shares. Or other promotions. Maybe the enterprises where they went (for example, some construction sites) will still rise? After all, the President told us that “we are coming out of the crisis.” So let's do this together, huh? And – to point 4. About real goals. This is a very significant point. The state in general and the Central Bank in particular need to offer a constructive and understandable alternative. And not the annoying squeal - “give us the money and that’s it.” Such screeching irritates and causes rejection by those who give it.

Technical: The minimum of what needs to be done: a sane website, pages on social networks, etc. And - only to the point, with moderation “from Navalny’s propaganda” (no any (!!!!!!) politics). If you want to get money, not time. Incl. for “a group, by prior intent.”

Moreover, if you behave actively, politicians will come themselves. If you behave correctly, ALL politicians will come. Including United Russia, not to mention the garbage collectors (no, what are you saying - I didn’t mean the ONF, but only the ECHR...).

And finally: no, I repeat, no distracting (related) offers. People who don’t know how to separate flies from cutlets are not liked; you know, they are ignored.

Ps It's hot. Taking into account, apparently, the looming plans to create another VTB (Sber?) under the roof of Mr. Zadornov (Yudaeva’s skirt), the chance to receive shares (and this is not zero/zero/“0”) is quite real.

Real reviews

The broker is quite large, there are a lot of reviews on the Internet. However, they are quite contradictory.

Traders

Trading participants for the most part complain about the insufficient number of exchange-traded instruments covered by Promsvyazbank. Investors have divided opinions regarding the services and software provided by the broker. In an unconditionally positive manner, all traders talk about low commissions on the stock and derivatives markets.

Clients

People who enter into trust deeds or purchase structured products from a broker are generally satisfied with the services they provide.

Employees

Employees of the brokerage and banking structures of Promsvyazbank note competitive salaries and the opportunity for development in accordance with the career ladder in the company.

Brief history of the broker and awards

The brokerage company is a division of Promsvyazbank. The company was founded in 1995, its activities are licensed and controlled by the Central Bank.

The company has licenses to carry out brokerage, depository and dealer (Forex) activities. Since 2021, this branch, together with the banking structure, has been transferred under state control.

The brokerage division does not have major awards or certificates; the certificates belong to the banking organization. The company is among the top ten companies providing brokerage services. The division is among the top ten brokers in terms of the number of active users in the markets (stock, currency, derivatives) of the Moscow Exchange.