The Central Bank of Russia Federation is Russia's central monetary ascendancy which establishes the rules that banks must comply with. Also, it regulates and maintains the strength and stability of the Russian currency. Other roles of the central bank include:
Implementation of peregrine currency exchange rules.
Setting out and publishing official exchange rates of peregrine currencies against the ruble.
TOP RUSSIAN BANKS
Here's a rundown of the top Russian banks:
Sberbank is a state-owned bank with headquarters in Moscow. It was founded in 1841, when Russia developed its first network of state-owned savings banks. The bank offers retail and corporate clients in Russia financial accommodations. As of 2014, it was considered to be Eastern Europe's most astronomically immense bank, as well as the third most astronomically immense bank in the world.
Sberbank accommodates retail and corporate clients in Russia and operates in 22 countries, representing 145.6 million customers and hiring 325,000 people. In Russia, it oversees 14 central banks, 79 regional bank branches, and 15,016 branches. It is considered the most sizably voluminous bank by assets value and accounts for over 31 trillion Russian rubles in assets in 2020.
VTB bank was founded in 1990 by the Central Bank of Russia and the Ministry of Finance of the Russian Federation. It is Russia’s second most immensely colossal bank. Also, it is a primary bank that operates in the Organisation for Economic Co-operation and Development (OECD) and other countries.
It was established as a limited liability corporation with the aim of accommodating Russia's peregrine trade operations and facilitating Russia's incorporation into the ecumenical economy. The bank's headquarters are in Moscow, but it is registered in St. Petersburg. VTB currently manages 40 full-accommodation locations. Total assets of the bank were US$219.86 billion in 2016, with a net profit of US$900 million.
Gazprom started this exceedingly enormous bank in 1990. In doing so, the world's largest gas producer and exporter created one of the most influential banks and Russia's third-largest bank by assets. The bank now has 43 branches and over 260 banking outlets across the country.
The bank's main areas of operation include:
Other banking activities in its portfolio are:
▪︎Peregrine exchange operations
▪︎Precious metals operations
In 2016, the bank reported total assets of US$85.24 billion and a net profit of US$300 million.
Founded by businessman Mikhail Fridman, Alpha bank was merged in 1990 and is now one of Russia's most sizably voluminous private commercial banks.
The bank is primarily involved in Russia and Ukraine though it operates in seven counties accommodating over 381,600 active corporate customers and 14.2 million retail customers. The bank's headquarters are in Moscow and operates 733 locations in the Russian Federation alone, with approximately 1,500 employees. In 2016, the bank’s total assets were US$38.24 billion, and net profit was US$527 million.
This bank commenced operations in May 1995, with major telecom companies as its first customers.
The bank's four business divisions are:
▪︎Retail and Private Banking
Its headquarters are in Moscow and has about 3,500 employees across all locations. The bank's assets were valued at US$21.38 billion in 2016, and its net profit was US$37.32 million.
Otkritie Financial Corporation Bank
It was merged in 1992 and is now one of Russia's most immensely colossal full-accommodation commercial banks.
Ranked first among privately-owned banks and fourth among Russian banks in terms of assets, this bank has grown into one of Moscow’s best full-accommodation commercial banks. It was merged in 1992 to accommodate corporate, small, and retail business clients in Russia. Also, it employs about 15,000 people in Moscow, with reported total assets of US$13.56 billion in 2016.
Russian Agricultural Bank
It was established in 2000 and is a state-owned agricultural bank controlled by the Russian Central Bank.
It has the mandate of acting as the State agent to enforce the nation's financial policy in the domestic agribusiness market.
This bank oversees 70 regional branches and 1,200 additional offices that currently accommodate around six million customers in the country. The bank's total assets were $33.4 billion in 2016, with a net loss of $837 million.
It was a wholly-owned subsidiary of Italy's UniCredit Group and was established on October 19, 1989, with headquarters in Moscow.
This bank offers:
▪︎Corporate and investment banking
▪︎Leasing and other accommodations
UniCredit has a workforce of about 4,000 people and represents 1.94 million retail customers and 28,700 corporate clients. As of 2016, the bank’s total assets amounted to US$20.47 billion with a net loss of US$245 million.
This bank commenced as Raiffeisenbank Austria in 1996 and has since grown to include Russia's Impexbank, which it acquired in 2006. Raiffeisenbank is one of Russia's most sizably voluminous banks, with reserves of $9 billion, private deposits of $5 billion, and consumer lending of $7 billion.
It was established in Moscow and is headquartered there. In Russia, the bank offers:
▪︎Corporate and retail banking
It ranks ninth in assets in Russia, fifth in private deposits and seventh in consumer lending. It employs around 7,700 staff and manages five branches and 174 outlets throughout the Russian Federation. The bank reported total assets of US$13.15 billion and a net profit of US$407 million in 2016.
Rosbank is a public joint-stock company founded in 1993 with its headquarters in Moscow. A majority of its shares are owned by the international financial group Société Générale Société.
The bank has three divisions, namely:
▪︎Treasury and financial institutions
In Russia, the bank offers commercial banking, investment banking, and custodial accommodations. It operates eight branches and employs around 13,600 staff in 340 cities and towns across the country. As of 2016, the bank’s total assets were US$15.37 billion, and net profit was US$54.23 million.