About us

Sovcombank is one of the largest in terms of assets and most profitable banking groups in the Russian Federation. The Group identifies market niches with limited competition and focuses on achieving and maintaining strong competitive advantages in these niches. The Group believes that a disciplined execution of this strategy enables it to maintain high profitability and excess capital through the economic cycles and to take advantage of market opportunities as they occur.

For 2014-2017, Sovcombank had average ROE of 50% and was the most profitable banking group among top-50 largest Russian banks for this period based on published IFRS accounts. The Group was the most profitable banking group in CEE by return on capital in 2016 and 2017 according to The Banker Magazine, a subsidiary of The Financial Times Ltd.

The Group has two main segments:

•  Retail. Sovcombank provides financial services and products to predominantly low- and moderate- income customers in under-banked rural areas of the Russian Federation on a cost-efficient basis. Sovcombank operates a disruptive retail business model, which utilises low-cost retail branches cutting edge supported by Sovcombank’s proprietary technology platform and by online and other sales-channels. As at 01 January 2018, the retail segment had 2,148 offices in 1,023 towns across the Russian Federation and served 3.2 million customers. Sovcombank operates the largest retail network among privately owned banks in Russia.

As of January 1, 2018, the Bank served 3 million retail customers living in 1,031 settlements through 2,148 offices. The Bank employs 11 thousand people.
 
•  Corporate & investment Banking (“CIB”). The CIB provides financial services to the largest Russian privately- and, state-owned corporations, Russian regional governments and municipalities. Bloomberg ranked Sovcombank as the No.1 privately owned arranger of domestic bonds in Russia in 2017. The CIB enables 350 thousand micro- small- and medium-sized business participate in public procurement. In 2017, 27% of all state and municipal procurement in the Russian Federation was administrated through the Sovcombank’s online platform, according to the Group’s estimates based on www.zakupki.gov.ru, a governmental website that registers all public procurement auctions and tenders. In addition, in 017, the Group issued 26.6% of all bank guarantees required for state and municipal procurements in Russia.

Five credit rating agencies assess creditworthiness of Sovcombank:

• 
Moody’s long-term credit rating is “Ba3” with a “stable” outlook confirmed on 23 March 2018;
• 
Standard & Poor’s long-term credit rating is “BB-” with a “stable” outlook confirmed on 22 March 2018;
• 
Fitch’s long-term credit rating is “BB-” with a “positive” outlook upgraded on 21 March 2018;
• 
Analytical Credit Rating Agency’s (“ACRA”) credit rating is “A” with a “stable” outlook confirmed on 21 March 2018;
• 
RAEX’s long-term credit rating is “ruA-” with a “stable” outlook first assigned on 14 July 2017.

Credit ratings and agency reports are available on the Credit Ratings page.

The Bank quarterly issues financial statements under IFRS audited and reviewed by the EY. IFRS and RAS financials are available on the web-site of the Central Bank of Russia and here.