A wide range of banking services provided by private commercial banks to their customers allows them to call themselves universal banks. Private Russian banks are losing competition to state ones by leaps and bounds. The top 10 largest state lending agencies have almost a half of all assets of the whole banking sector, which is what provides stability for the financial system but slows down its development.
Top 5 Russian private-owned banks by assets:
Bank Otkritie is the largest private Russian bank. It has a well-developed network of branches and has a strong position in all the key areas of the banking business. It provides a wide range of banking services and lends to both corporate and private clients. In addition, the bank actively works in the field of investment services and operations in the precious metals market. The financial organization with the same name is the center of the banking group Otkritie.
Alfa-Bank is a universal bank offering a full range of banking operations which are in the market of financial services, including private and corporate client servicing, investment banking business, trade financing and asset management. Alfa-Bank’s headquarters is located in Moscow.
Raiffeisen bank is a subsidiary of Raiffeisen Bank International AG. It has operated in Russia since 1996. Private and corporate clients can conduct transactions in rubles or a foreign currency. Raiffeisen Bank has managed to show itself for the years of its successful work as one of the undisputed leaders in the lending market. The Raiffeisen bank’s credit service packageincludes consumer lending, auto lending, mortgages, and others. Raiffeisen bank is considered by international experts as one of the most reliable banks in Russia.
Promsvyazbank is a big universal bank with a developed network of branches. The main operations of the bankare lending and corporate accounts servicing. The bank has developed a retail business since 2005. In addition, the sphere of interest of the lending institution includes the work in the stock market, interbank and foreign exchange markets.
Credit Bank of Moscow is a large commercial bank, the main shareholder of which is Roman Avdeev who is the head of the diversified concern “Rossium”. The bank has a large network of branches, but it’s currently presented in the Moscow region only. Credit Bank of Moscow focuses on the development of the retail business and corporate clients servicing.
Other private-owned banks: UniCredit, B&N Bank, Rosbank, BM-Bank, ROST BANK, Russian Standard Bank. Read about European and American banks in Russia.