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Russian Standard Bank bank

   
Name Russian Standard Bank
Full name Joint Stock Company "Russian Standard Bank"
Licence 2289 | Summary on the Central Bank of Russia Site

Ranking

on 01.11.2017 г.
Net assets 389 401 184 RUR, tnd, 25th place in Russia, 20th place in regions
Net profit 5 123 235 RUR, tnd, 22nd place in Russia, 19th place in regions
All indicators
Headquarter
105187, Moscow, Tkatskaya str., 36
URL www.rsb.ru
Banki.ru reference

The bank was registered as Agroopttorg in March 1993. After the 1998 financial crisis the lending institution was bought for around $100,000 by entities affiliated with vodka brand Russian Standard owner Rustam Tariko and was given its current corporate name. The bank entered the deposit insurance system in September 2004.

Bank Russian Standard owners pursued the business idea of Mezhcombank that collapsed during the 1998 financial meltdown, i.e. focused on retail lending based on scoring models, and also hired former Mezhcombank professionals. The new bank’s concept was worked out with the participation of professionals from consultancy McKinsey who also developed the concept of the Russian Standard vodka brand. Alexander Zurabov of Menatep and the deceased Andrey Kozlov worked at the bank for a while.

Bank Russian Standard was one of the first to blaze a trail in the consumer lending market and, in fact, laid groundwork in Russia for a new line of business for banks, namely high-margin consumer lending (unsecured retail loans provided at high rates).

For a long time the bank’s business expansion was funded by a heavy flow of public borrowings (bonds and Eurobonds) on both domestic and foreign markets. Professionals from American Express and the International Finance Corporation (IFC), which held a minor interest in the bank from 2003 through 2006, helped the lender gain access to foreign capital markets. Many times the bank’s foreign partners tried to buy into the bank, but its beneficial owner preferred to develop the bank himself and rejected offers.

Once the consumer lending market developed, reached saturation and encountered tougher competition, the bank launched new projects, namely to roll out auto lending and credit cards. At present, the lending institution is one of the largest players on the Russian retail credit card market. Notably, a team of executives, which was in charge of Bank Russian Standard’s consumer lending programs and made the bank number-one in this niche, has been busy with the same at Sberbank for several years already.

The bank’s beneficial owner is board chairman Rustam Tariko who owns 100% of the bank through businesses under his control.

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