The Russian banking system is top-heavy, largely state-controlled, and heavily regulated by the Russian Central Bank. The Russian state holds majority stakes in the top two banks, Sberbank (SBER) and VTB (VTBR), which together account for more than half of the Russian banking industry's assets.

After these two giants, the next three largest banks by assets are government-controlled Gazprombank; Promsvyazbank, which was nationalized in 2018 and turned into a lender to t꧂he Russඣian defense industry; and the fully state-owned Russian Agricultural Bank.

澳洲幸运5官方开奖结果体彩网: All data as of July 2023.

Sberbank (SBER)

• Revenue (TTM): ₽4.1 trillion (Rubles)
• Net Income (TTM): ₽265.4 billion
• Market Cap: ₽5.5 Trillion
• 1-Year Trailing Total Return: 93.1%
• Exchange: Moscow
  

Sberbank's history stretches back to 1841, when Russia established a network of state-owned savings banks. It remains by far the largest Russian bank by market capitalization—₽5.5 trillion (rubles), as of July 2023.

Sberbank's 107 million retail customers account for approximately half of Russia's deposits and credit card accounts. The Russian government owns a stake of just over 50% in Sberbank, which it acquired from the Russian Central Bank in 2020.

VTB (VTBR)

• Revenue (TTM): ₽1.2 trillion
• Net Income (TTM): ₽303.4 billion
• Market Cap: ₽615.4 billion
• 1-Year Trailing Total Return: 26.4%
• Exchange: Moscow

The second-largest Russian bank and another majority state-owned one, VTB was founded as Vneshtorgbank (Foreign Trade Bank) in 1990. The Russian government holds 92.2% of the bank's share capital, including 60.9% of its ordinary shares.

Gazprombank (GAZP)

• Revenue (TTM): ₽10.2 trillion
• Net Income (TTM): ₽579.8 billion
• Market Cap: ₽4.06 trillion
• 1-Year Trailing Total Return: -9.42%
• Exchange: Moscow

A subsidiary of Russian natural gas giant Gazprom (GAZP), Gazprombank is Russia's third-largest bank by assets. It was founded in 1990 to provide banking services to the energy industry.

The bank is predominantly owned by Gazprom and related entities, including Gazprom's pension fund. While it continues to focus on energy financing, Gazprombank has expa🌳nded lending to other sectors of t𒐪he Russian economy.

Promsvyazbank

• Net Income (Q1 2023): ₽25 billion
• Assets (Q1 2023): ₽6.3 trillion
• Exchange: Moscow

Founded in 1995 by brothers Dmitry and Alexei Ananyev, who had been telecom technology entrepreneurs, Promsvyazbank became one of the fastest-growing Russian banks, a process aided in 2015 by several acquisitions. Along the way, it drew substantial minority investments from Germany's Commerzbank AG (CBK) and the 澳洲幸运5官方开奖结果体彩网:European Bank for Reconstruction and De🔯vel🐭opment.

The bank was recapitalized in 2018, with ownership assumed by the state to finance the defense sector and military activities.

Russian Agricultural Bank

• Net Income (Q1 2023): ₽10.9 billion
• Assets (Q1 2023): ₽4.5 trillion
• Q1 Assets: +5%
• Q! Equity: +4.2%
• Exchange: Moscow

Russian Agricultural Bank is a state-owned bank established in 2000. The bank specializes in agricultural financing, with over 5,400 agribusinesses financed in its 22-year existence.

The Bottom Line

The largest banks in Russia are all state-owned and account for most of the banking activity in the country. Sberbank and VTB Bank control most of the financial market in Russia.