The bank was set up as Ivanovskiye Sitsy Commercial Bank in Ivanovo in July 1992, and it primarily served local enterprises. The bank was renamed Ivanovsky Oblastnoy Bank in December 1997. The bank became part of banking group Life in 2004, and the banking groups core is Moscow-based Probusinessbank, and joined the deposit insurance system in December 2004. Since 2008 measures have been taken to transform the banks business model from universal to mono-product (as part of Life Group). As a core area of business the bank picked lending of employees of budget-financed institutions and pensioners. The bank was again renamed National Bank of Savings in August 2009.
The bank is 100% owned by Probusinessbank. The banks beneficial owners are Sergei Leontiev (29.78%), Eldar Bikmaev (11.72%), Alexander Zheleznyak (11.43%), Eduard Panteleev (5.44%), and also investment funds East Capital (19.93%), Blue Crest (7.94%) and Rekha Holdings (7.22%).
Apart from the head office, the bank runs 29 additional offices and a representative office (covering around 30 Russian regions). The list of services provided to corporate clients is short. The bank mainly specializes in serving households. The bank has three primary areas of retail lending (lending programs for employees of budget-financed institutions, pensioners and also mortgage lending). The banks specific feature is that some offices were launched on the terms of a franchise purchased by third parties.
Since the beginning of 2013 the banks grand total has dropped 11%. A contraction in the banks liabilities was driven by an outflow of the parent banks funds via inter-bank loans. The outflow was partly offset by the money drawn from households. In terms of assets, these changes led to lower retail lending.
As for the lending institutions liabilities, 51% fall to mid- and long-term inter-bank loans provided by Life Group banks (including the parent bank, Probusinessbank), 21% to retail deposits and 22% to the banks own funds (capital and reserves). The bank is to a large extent focused on retail lending. The banks own clientele is minimal (both in terms of the balances held and clients account turnover). The bank is considered to be moderately dependent on household funds.
Also, roughly 93% of the assets fall to the retail credit portfolio. The money invested in fixed assets and highly liquid assets each accounts 2—4% of net assets.
The credit portfolio is the core of the banks assets. The credit portfolio consists of retail loans only (retail and mortgage loans). All credits are long-term, issued for over 12 months. NPLs are high (12.9% of the portfolio), and keep growing. On the inter-bank lending market the bank is a modest player, raising missing liquidity from the parent bank and Life Group banks.
The lending institution posted FY12 net profit of Rub 60.5 mln under RAS. For the record, the lenders FY11 net profit amounted to Rub 32.7 mln. In the January — September period of 2013 the bank suffered a loss of Rub 3.8 mln.
The Board of Directors: Alexander Zheleznyak (chairman), Alexander Lomov, Nikolai Firsov, Vadim Kolotnikov and Maria Alpatova.
The Management Board: Vadim Kolotnikov (chairman), Andrei Fantin, Sergei Bykov, Grigory Galitskikh, Maria Revyakina, Sergei Astaev, Nadezhda Ilyina and Lyubov Danilyuk.