100 Reliable Banks in Russia 2019, Forbes Rating

Russian Forbes studied the greatly reduced banking population of the Russian Federation and identified the kings of the financial jungle, on whose reliable shoulder both an oligarch and a simple worker can rely. Introducing you list of 100 most reliable banks in Russia in 2019.

The past five years have been difficult for Russian banks. Lovers of money laundering gradually began to disappear from the financial market, as well as hotheads who are ready to put an existing tit on the line for the hope of getting a crane. As a result, four hundred banks ceased to exist, and in the current 2019, according to financial experts, their number will be reduced by another fifty. And the "survivors" are urgently trying to solve the accumulated problems, sometimes rooted in the days of dubious capital in the first half of the nineties.

Traditionally, let's take a closer look at the top 10 most reliable banks.

10. Credit Agricole

Credit rating Fitch: BBB-
AKPA: AAA

The top ten most reliable banks operating in Russia in 2019 included only subsidiaries of large foreign financial corporations and only the largest and most famous Russian banks. Credit Agricole was no exception to this rule.

The Green Bank (once raised on agricultural loans to French peasants) is considered one of the largest in France, based on the size of assets and the number of clients. However, ordinary Russians will not have the opportunity to bring money to it - Credit Agricole has only two branches (in St. Petersburg and Moscow), and its clients are overwhelmingly legal entities.

9. HSBC Bank

Fitch: BBB-
AKPA: AAA

After the French, the next in the list of the most reliable banks in the Russian Federation in 2019 are the Britons. HSBC Bank, or HSBC for short, is the Russian representative office of one of the largest financial corporations in England. HSBC is one of the most expensive banking brands, is the seventh largest in the world in terms of assets, and its clients are citizens of 70 countries.

However, three years ago it turned out that the bank provided its popularity, among other things, by actively helping clients in competent tax evasion. This kind of "charity" cost the bank a fine of 40 million Swiss francs. And, like the French, in Russia the British prefer to work with corporations - there have been no “private traders” among the bank's client since 2011.

8. Nordea

Fitch: BBB-
AKPA: AAA

The Nordea financial group was formed as a result of the acquisition or merger of large banks in Denmark, Norway, Sweden and Finland at the turn of the century. Nordea is most represented in Europe, but it is also trying to master the Chinese and Singaporean financial markets. There is a branch of this bank in the USA.

Nordea appeared in Russia in 2006, when the Finns bought out 86% of Orgresbank shares. However, it seems that the Scandinavians will not stay in Russia for long - they are afraid of suspicions of money laundering, as well as the possible threat of being involved in cases with sanctions. Slowly "Nordea" turns off work with Russian clients and switches to Scandinavian clients.

7. Ing Bank (Eurasia)

Fitch: BBB-
AKPA: AAA

The headquarters of the parent corporation, whose subsidiary is the Russian Ing Bank, is located in the country of tulips and windmills - Holland. There, in a building of an unusual shape, dubbed the "shoe" by the Amsterdammers, financial tycoons manage the accounts of 37.4 million clients from more than 40 countries around the world.

However, not everything is perfect in the Dutch kingdom: the growing financial scandal is about to hit them too. From the pages of The Financial Times, accusations have already been heard that, among other things, Russian money was laundered through Ing Bank. It is not yet known how the bank's management will react to this and whether it will prefer to follow the example of Nordea.

6. Citibank

Fitch: BBB-
AKPA: AAA

It is a subsidiary of a large financial corporation headquartered in New York. Citigroup is one of the largest financial corporations around the world, with more than 200 million private and corporate clients and bank branches in 160 countries around the globe.

In Russia, Citibank is doing well, and, unlike previous participants in the bank reliability rating, this financial institution does not hesitate to take money from individuals. It serves over 600 thousand "private traders".

Although in 2019 Citibank plans to close a number of branches in Moscow, this does not mean that Citigroup is going to leave Russia. It's just that the bank is switching to a digital service model.

5. VTB

Fitch: —
AKPA: —

If not foreign, then state-owned - the fifth place in the ranking of the most reliable banks according to Forbes is VTB Bank. The bank is owned by the government of the Russian Federation, which owns more than half of the shares.

And even sanctions cannot harm the financial giant. Although the world rating agencies refused to assess VTB, the British magazine The Banker, whose opinion is listened to by financiers around the world, last year awarded VTB the Bank of the Year award.

4. Sberbank

Fitch: BBB-
AKPA: AAA

The fourth place on the Forbes bank list is the undisputed leader Russian banks according to the Central Bank... The bank has more than 2 million accounts of legal entities. What can we say about the accounts of individuals - here "Sberbank" reigns supreme, single-handedly holding almost half of the market.

The bank's clients in Russia are more than 88 million people, and the bank's employees can populate a medium-sized city (there are almost 300 thousand people). Based on the results of 2018, the main Russian bank is doing well. According to its head, last year Sberbank made a record profit, and the return on equity increased by almost a quarter. And this despite the complicated international relations. For example, the Ukrainian version of Sberbank cannot withdraw capital from the country by direct order of the local president, and we will not even talk about American sanctions.

3. Rosbank (Societe Generale)

Fitch: BBB-
AKPA: AAA

The overwhelming majority of Rosbank shares, namely 99.95%, belong to the French financial corporation Societe Generale. The headquarters of the corporation is located in Paris, in three skyscrapers belonging to the company, the largest of which reaches 183 meters in height. A worthy haven for a serious financial institution.

The Russian subsidiary serves both corporate clients (over 100 thousand accounts) and individuals (3.3 million people). And in the first half of 2019, Rosbank will merge with another subsidiary of Societe Generale - Deltacredit. Previously, this bank dealt exclusively with mortgages.

2. Raiffeisenbank

Fitch: BBB-
AKPA: AAA

The Austrians appeared on the Russian market in the mid-nineties, but they became serious players only ten years later, after the merger of ImpexBank. The parent company, Raiffeisen Bank Group, is considered one of the largest banking corporations in Austria in terms of assets and is ranked in the top 200 banks worldwide by The Banker magazine.

However, Raiffeisen Bank Group's presence in the financial market is mainly limited to the countries of Eastern Europe, including both the Balkans and the countries of the former USSR.Like most other European banks, Raiffeisenbank was hit by a wave of paranoia over the possibility of Russian money laundering. In early March, one of the British financial organizations even filed an application with the Austrian prosecutor's office regarding the bank's activities, but the inspectors did not find any suspicious transactions.

1. Unicredit bank

Fitch: BBB-
AKPA: AAA

According to Forbes, the first place among the most reliable banks in Russia in 2019 is occupied by another subsidiary of a foreign financial corporation. This time they are Italians - 100% of the shares of "Unicredit Bank" belong to the financial group UniCredit.

For the most part, UniCredit operates in the European market, mainly in the central and eastern part of it, covering also the countries of the former USSR. However, not all is cloudless on the Italian-Russian banking horizon. In November last year, the authoritative rating agency S&P Global Ratings changed its assessment of Unicredit Bank, changing its outlook from “stable” to “negative”. The reason for this decision lies not in the fact that in 2018 the profit of the Russian version of the bank decreased by 7.5%, but in the change in the creditworthiness of the parent bank, which is currently experiencing some difficulties.