Top List of Banks in Russia
Banks in Russia are rapidly developing. This is because economic growth depends on the development of the country's financial sector over the years. Russian banks play a significant role in developing the banking system and the entire national economy.
Russian banks operate mainly within their own country but have a presence abroad. In addition to regular banking services such as taking deposits and giving loans, Russian banks offer investment management, insurance services, and brokerage services. This allows customers to solve issues from opening an account to working with securities. The following are some of the top banks in Russia:
Sberbank of Russia is a state-owned Russian banking and financial services company headquartered in Moscow. Sberbank has operations in several European and post-Soviet countries. Sberbank is one of Russia's largest banks (and one of the largest financial institutions on earth) with an almost universal reach, a central role in the Russian financial system, and an essential presence in international markets.
Sberbank has operations in 20 countries, including Turkey, Iran, China, Germany, the US, France, and Italy. In 2020 Sberbank reported total assets of US $497,021 million with over 281,000 employees and 187 branches serving 125 million customers in 20 countries.
Sberbank provides a full range of investment banking and asset management products and services to corporate and institutional clients. The Bank's corporate and investment banking business includes both global markets and investment banking services and debt financing and trade finance.
VTB Bank is one of the leading universal banks of Russia. VTB Bank and its subsidiaries form a leading Russian financial group – VTB Group, offering a wide range of banking services and products in Russia, CIS, Eastern Europe, Asia, Africa, and Germany. Services include retail banking, corporate banking, investment banking, asset management, insurance services, foreign exchange, and securities trading. The Bank has subsidiary banks, VTB 24 and the Bank of Moscow. As of January 2018, VTB had 1,350 branches in Russia and 40 abroad (the UK, Germany, Cyprus), with total assets at $289 billion in 2021. In the financial year of September 2017, the Bank had approximately 94,181 employees.
Gazprombank is a Russia-based banking institution, which is part of the Gazprom financial group. Gazprombank was founded in 1990. In 1993, the Bank received a license from the Central Bank of the Russian Federation to provide banking services. The Bank provides banking services to corporate and private individuals. In addition to the commercial banking activities, Gazprombank is one of the world's leading lenders for significant energy projects. The Bank has been involved in several pioneering projects across the oil, gas, and electricity sectors.
The Bank has 43 branches and offices throughout Russia (including two branches in Moscow, one branch in St. Petersburg, one branch in Nizhny Novgorod, one branch in Yekaterinburg, and one branch in Novosibirsk), as well as a subsidiary bank, Svyaz-Bank, and two subsidiaries abroad (Switzerland and Luxembourg). It is estimated that the Bank had employed more than 12,700 people by 2013, and as of 2020, the Bank had a total assets net worth RUB 7.530 trillion.
Alfa-Bank JSC is one of the largest private commercial banks in Russia. Alfa-Bank offers a full range of retail and corporate banking services to clients, including investment banking and advisory services. It offers consumer loans, bank cards, deposits, and current accounts for retail customers. Its headquarters are in Moscow, although it has branches in many parts of Russia and abroad.
The Bank was established in 1990 by Russian businessmen Mikhail Fridman, Petr Aven, and German Khan. As of 2020, the Bank had total assets worth 61.85 billion US dollars, making it one of the biggest banks in Russia. As of 2020, the Bank had 519 branches with a total of 26,008 employees across the country and abroad.
Russian Agricultural Bank
The Russian Agricultural Bank is one of the largest banks in Russia by total assets (RUB 3.3 trillion as of 2020). It is a state-owned bank and is the leading institution for servicing agricultural enterprises, agro-holdings, food producers, and processors in Russia. Russian Agricultural Bank provides lending, leasing, and other services to agriculture companies. The Bank has 66 regional branches and about 1,300 additional offices throughout Russia. The Bank's main office is located at Chistoprudny Boulevard 25A in Moscow. The Bank is headquartered in Moscow with more than 66 regional branches and about 1,300 additional offices. It provides services to more than 9 million customers, including 3 million legal entities, almost 6 million physical persons, 650,000 individual entrepreneurs, and 15,000 farms. As of 2020, it had employed an estimated number of 149 people.
Credit Bank of Moscow
Credit Bank of Moscow is a Russian commercial bank with headquarters in Moscow. It is one of the largest banks in Russia by asset size, with total assets valued at US$37.4 billion (2019).
Credit Bank of Moscow was founded on March 13, 1991, before It was later renamed Credit Bank of Moscow. In 2005, the Bank became part of the Gazprombank group. CBM is a universal commercial bank with a wide range of services for corporate and retail clients, including investment banking. CBM provides its services through a network of 405 offices in Russia, 2 branches in Cyprus, 1 representative office in China (Beijing). CBM's customer base includes over 1.7 million individuals and more than 60 thousand companies and employs over 6,609 people.
Otkritie FC Bank
Otkritie FC Bank is a Russian financial services company headquartered in Moscow, Russia. The Bank has over 520 employees, and it offers a range of banking services and products, including retail, corporate and investment banking, wealth management, brokerage, and insurance. It is one of the largest banks in Russia with $40.3 billion in assets as of 2016, ranking it among Russia's largest banks and operating 876 outlets in 57 economically important regions of Russia as of March 31, 2014.
Sovcombank is a Russian commercial bank licensed by the Central Bank of Russia in December 1993. On December 1, 2013, the Bank extended its branches to 732 locations, and the number of employees rose to 7,000. As of 2020, the Bank had Total assets of RUB 1483.36 billion.
The Bank provides banking services for individuals and legal entities through a network of branches and representative offices located in all administrative-territorial units of Russia.
Promsvyazbank, through its subsidiaries, provides financial and banking services to individuals, small and medium enterprises, and large corporations. The company was founded in 1995 and is based in Moscow, Russia. As of 2020, the Bank had an assets net worth RUB 248.4 billion, and in 2021, it is estimated that it had employed a total of 10,000 people across its branches.
Rosbank is a Russian universal bank. It is one of Russia's top ten largest banks and is part of Societe Generale Group. The Bank operates more than 550 outlets in Moscow, St. Petersburg, Yekaterinburg, Krasnodar, Rostov-on-Don, Novosibirsk, Samara, Kazan, and other major cities of Russia. Rosbank is a universal bank, providing its clients with an entire range of banking services. The Bank offers a full range of products and services for individuals and legal entities, including retail lending and deposits, documentary operations, cash management, trade finance, leasing, investment banking, and treasury services. Rosbank's assets amounted to $17,877 million, while its number of employees stood at 12,500 as of 2015.
Q.Can foreigners open bank accounts in Russia?
A.Yes, foreigners, and non-residents can open a bank account in Russia. However, the choice of banks for foreigners is limited, and the procedure of opening accounts may be complicated.