Promsvyaz Bank is a Moscow-based private bank and the tenth largest bank in Russia. The bank was founded in May 1995 by the Ananyev brothers, owner of Tekhnoserv, the largest system integrator in the CIS. As of February 2016, the bank serves more than 100,000 companies and more than 2 million private clients.
Last week, Promsvyaz Bank announced that it had begun to reshape the brand and changed the bank's LOGO. In addition to simplifying the graphic part, the new LOGO will replace the previous full name "Promsvyaz bank" with the abbreviation "PSB" or "PSB Bank", but the official name of the full name will remain same.
Promsvyazbank pointed out in the press release that the rebranding makes the PSB look more comprehensive and corresponds to its current development strategy and mission. During the graphic LOGO upgrade process, some of the original brand's heritage, such as the blue and orange "curved shape" symbols, was retained. Promsvyazbank believes that PSB has a long history and wide recognition of customers, but in the visual upgrade, the continuity and relevance of the brand must be preserved.