The Savings Bank (Sberbank) of Russia
The history of the first Russian Bank dates back to 1 March 1841, when the first savings bank was opened in St Petersburg. By that time the citizens were aware of lending and money safeguarding institutions thanks to a network of widow, loan and savings exchequers. Interestingly, the symbol of the new institution became pelican, a bird known for its exceptional care and love to its nestlings, since the first savings bank occupied the building of the board of trustees.
Then in 1860 the National bank of the Russian Empire, with the minister of finance as the head, was founded. As a result it obtained control over all savings banks functioning in Russia.
At the turn of the century the savings banks flourished and their number increased at breakneck speed. By 1900 the country totaled 5 415 savings banks compared to 76 in 1886.
The emperor Nikolai II signed a new code of the banks implying creation of the central office of the national savings banks. The building was erected on the Bank of the Fontanka River in St Petersburg.
After the Revolution all commercial institutions were closed, the new government prohibited mortgage loans, credits, securities and investment business, all government loans were written off. However, savings banks kept working and deposits remained reserved. In 1921 the National Bank was established. In the following years the Soviet government used the savings banks for obtaining funds from the people for industrial development of the country.
In 1988 all state labor savings banks were united to form the Savings Bank of the USSR as the State Specialized Bank for the population and legal entities. 22 March 1991 the Open Joint Stock Company Savings Bank of the Russian Federation was set up at the general meeting of shareholders.
Starting 1 January 2001 the reorganization of the regional departments of the Savings Bank took place and, eventually, 79 regional banks were reunited into 18 units.
Today Sberbank is the biggest bank of Russia and goes 24 according to the Financial Times rating of the world largest banks by market capitalization. Headquartered in Moscow, Sberbank has over 20,000 business units with average staff of 250,000.
Gazprombank
In keeping with annual ratings, Gazprombank is the second Russia’s bank with regard to its main financial indices. The bank is the third among the banks of the Central and Eastern Europe. The bank was founded in 1990.
Besides the gas industry, Gazprombank currently renders banking services to enterprises and employees of other real sector industries (chemical, engineering, defense, and other industries). The Bank’s client base consists of approximately 2 million retail clients and 40 000 corporate clients, including 1000 enterprises and institutions of the gas industry.
The Bank provides service for large-scale international projects such as “Yamal-Europe” gas pipeline laying from Siberia to Europe; “Blue Stream” – for gas transportation across the Black Sea bed to Turkey; pipelines laying on the territory of Central, Eastern and Southern Europe. A system of banking services is creating for OAO “Gazprom” long-term projects in Siberia and the Far East on Russian gas supplies to Japan, China, and South Korea.
VTB
VTB is a recognized leader of the national financial industry having gained a sustained competitive edge in all segments of the banking market.
VTB was established in 1990 as a close joint-stock company with Government-run ownership. Shortly, after it was granted General banking license for transactions in domestic and foreign currencies, VTB started its operations. In 1998, the Bank was transformed into an open joint-stock company. The Russian Government holds the majority stake amounting to 99.9%.
As a result of the IPO conducted in 2007,the aggregate amount of funds raised approximated US$8 billion, making the VTB’s IPO the world’s largest public offering in 2007. It also proved to be most public in the history of the Russian stock market, since more than 120 thousand Russians have become VTB shareholders during the IPO.
The Bank has successfully been trading in all kind of government and corporate securities and is presently one of the leading Russian Custodians. Foreign network of the Bank is represented by subsidiaries in London (Great Britain), Paris (France), Zurich (Switzerland), Limassol (Cyprus), Vienna (Austria), Frankfurt-on-Main (Germany), Luxembourg, Luanda (Angola), Kiev (Ukraine), Tbilissy (Georgia), Minsk (Belarus) and Erevan (Armenia), representative offices in Milan (Italy), Beijing (China) and Delhi (India).
Alfa Bank
Alfa Bank is headquartered in Moscow and has got over 200 branches in Russia and the CIS, and subsidiaries in Kazakhstan, the Netherlands, and the United States. The bank was founded in 1990 and now it is one of the largest privately owned banks in Russia. In addition to banking, the Bank has FSA and NASD-regulated brokerage subsidiaries located in London and New York.
Alfa-Bank is one of the few Russian domestic banks that operate under international auditing standards (PricewaterhouseCoopers — since 1993). In 2006, it was recognized as one of Russia’s most transparent banks by “Transparency and Disclosure by Russian Banks”, research conducted by Standard & Poor’s. Alfa-Bank has always supported charities, Russian culture and development programs for young talents. The Bank is a member of the Corporate Club of WWF Russia (World Wildlife Foundation) and a donor to the Russian Charity “Life Line”.
Bank of Moscow
Bank of Moscow is a joint stock commercial bank offering a full range of banking services. It was established in 1995 at the initiative of the Government of the City of Moscow as an open joint-stock company. The Moscow Government and its related entities own a 43.999 % share in the bank’s equity. Since December 2004 the bank’s shares are traded on the Moscow Interbank Currency Exchange (MICEX). Currently the Bank serves about 100 thousand corporate customers and over 7.7 m individuals. The Bank ranks second biggest in the country by number of the issued plastic cards (7.9 m) and the third one by the amount of private customers deposits.
The Bank lends to major industrial projects and renders financial services to leading Russian companies, such as ALROSA, United Energy System of Russia, Gazprom, Ural Optical and Mechanical Plant, Tulachermet, Don Tobacco, TVEL, SUAL Group, Tyumen Oil Company, Mosenergo.
