What are the most important, reliable and safest government banks for Russian economy? Bank of Russia is currently engaging in cleaning the domestic banking system and actively revoking the licenses from banks for the violation of banking regulations. Banks with state participation are the most reliable in comparison with others because the probability of revocation of a license from them is significantly lower. Many bank depositors probably want to transfer their money to Sberbank despite the low deposit rates.
What are the other banks besides Sberbank which can be related to the state-owned (national) Russian banks?
Sberbank is the largest and the safest bank in Russia and CIS with the widest net of subdivisions which offer the whole spectrum of investment-banking accomodation. Not only does the bank take first place in terms of assets (22 124 672,6 mln roubles) but also in number of settlement accounts of artificial persons (over 1 mln.). Sberbank is a monopolist in the market of individual deposits. It controls 46% of the market. As per 2015 year-end results the bank received about 130 billion roubles of after-tax profit.
The main direction of activity of the VTB bank is corporate client servicing. It’s a full service bank which is a part of the international financial group VTB.
VTB formed the first international bank group in the history of Russia which is able to compete with first-rate western financial institutions on equal terms and to offer high-quality banking services all over the world. The bank is a world-class credit institution which shares circulate in Russian and international stock markets freely.
Gazprombank is one of the largest and reliable universal financial institutions in Russia. The credit institution has a developed network of subsidiary banks and branches. It’s one of the three largest banks in the country and it is at third place on the list of banks in Central and Eastern Europe. The state is indirectly involved in the bank capital via the PJSC Gazprom.
VTB24 is one of the largest banks in terms of assets in Russia. It’s a retail bank branch of the group VTB. Bank VTB controls 99.93% of the shares of VTB24. VTB24 specializes in working with private individuals, individual entrepreneurs, and small businesses. VTB24 is to be merged with VTB until the end of 2017.
Russian Agricultural Bank is one of the largest banks in Russia. It specializes in financing agricultural enterprises. The Russian government owns 100% of the shares of the bank. Its main activities include client servicing, corporate clients lending, and the attraction of the population to deposit money in the bank. The largest source of assets are the funds of the legal entities (over 40% of its assets).
Other state-controlled banks: Bank of Moscow, AK BARS Bank, MSP bank, Vnesheconombank Read about International banks in Russia (mostly American and European banks)