Sovcombank

Established in 1990

Sovcombank has grown in 17 years from a small bank with a capital of 2 million rubles with the only branch in the village of Buoy (a town 100 kilometers from Kostroma with a population of 24 thousand) to the 4th largest and one of the most profitable privately-owned banks in the country with a capital of 133 billion rubles. The Bank currently has 15 thousand employees in 2.4 thousand offices in 1034 towns across the country.

The Group believes that a disciplined execution of its strategy enables it to maintain high profitability and excess capital through the economic cycles and to take advantage of market opportunities as they occur.

Stages of development

2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2007
2006
2003
2002
1990

Consortium of investors

From April 2018 to August 2019, the Bank's capital increased by ₽15.6 billion due to investments from a consortium of sovereign funds of Russia, China, Japan, the Middle East countries, as well as the SBI Holdings Inc. (Japan). The co-founders of Rosevrobank (Ilya Brodsky and Andrey Suzdaltsev) became the shareholders of Sovcombank.

Responsible banking & ESG

Sovcombank becomes the first Russian bank to become a Founding Signatory of the UNEP FI Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals. 46 CEOs, including Dmitry Gusev, the CEO of Sovcombank, launched the Principles at the United Nations General Assembly.

Debut Eurobond issue

On 7 October, Sovcombank placed its subordinated Eurobonds for the first time, offering a USD 300M issue with an 8% coupon. The 10.5-year issue came with a call option exercisable after 5.5 years. The "ВВ" rating from Fitch makes it one of the agency’s two best rated subordinated Eurobond issues among Russian banks.