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Forbes lists Russia’s most reliable banks

Forbes has drawn up a ranking of Russia’s most reliable banks based on their financial indicators. 

UniCredit Bank took the first place. Russia’s largest lending organization with foreign participation is a subsidiary of European UniCredit group. The bank has a long history. It was founded back in 1989 by resolution of the USSR Council of Ministers. The company also holds the Russian Central Bank’s general license No. 1.

Raiffeisen Bank was ranked second. Subsidiary of an Austrian bank group of the same name, in 2013 it merged ATM networks with UniCredit Bank.

Rosbank came third. Almost 100% of its shares are owned by SocieteGenerale (France).

Russia’s largest bank (and one of the largest companies in the country), Sberbank, took the fourth place in the ranking despite being state-run and its extensive network of branches. VTB rounds up the top five.

“In this ranking, we assessed data from international and Russian rating agencies accredited with the Central Bank. At the first stage, we shortlisted the banks based on their rating and assets, which must stand at over RUR 30 bio ($464 mio). If one bank had several ratings, we considered the highest rating,” the research authors commented.

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