Foreign banks in Russia - list, features, percentages and reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In our country, every day the confidence in domestic banks among the population is steadily decreasing. This is mainly due to the huge number of bankruptcies of Russian banks. The current situation as a whole is not even affected by the fact that the state is trying to attract the attention of depositors through the provision of deposit insurance and guarantees. Consider the most popular foreign banks in Russia.

Citizens' trust in "foreign" banks

Foreign banking giants are more and more trustworthy among legal entities and individuals. You need to understand that the legislation in force on the territory of the Russian Federation does not give foreign banks the right to open branches, and all they can get is a share. In simple terms, foreigners have the opportunity to establish subsidiaries of Russian structures related to finance, be their founders and manage.

When choosing a bank, you should pay attention to the assets and balance for the last year, because if the bank will work with a negative balance, and this trend will continue for a certain period, it may lose its license. It should be analyzed whether the bank participates in the DIS (deposit insurance system), which will allow, upon revocation of the bank's license, to return up to 1.4 million rubles of the deposit amount.

Financial balance and CER participation isn't everything. You also need to find out how the bank treats its customers. Both legal entities and individuals are worried about how quickly its employees will solve the problem that has arisen.

List of foreign banks in Russia

Foreigners intend to invest colossal sums and develop such subsidiaries. Often, the invested funds exceed the authorized amount of the financial institution itself, as a result of which the trust in such organizations becomes higher among both individuals and legal entities. The citizens of Russia should not be blamed for such behavior, since everyone is aimed at preserving their earned money and, of course, no one wants to lose it. Below is a list of foreign banks in Russia:

• UniCredit-bank.
• Raiffeisenbank.
• Rosbank.
• Deutsche Bank.
• Citibank.
• "HomeCredit Bank".
• "Barclays Bank".
• "Credit Europe Bank".
• "Deltacredit".
• "OTP Bank".
• "Rusfinance Bank".

When choosinga foreign structure needs to be selective and attentive, since it is the thoroughness of the analysis of the work of a foreign bank that will help to calculate the fate of the deposit. The financial market of our country is now famous for the fact that more and more foreign banks appear and strengthen on it due to loopholes in the legislation. Foreign financial institutions are a significant competitor to Russian ones, as they provide the most profitable conditions for lending and savings programs.

Among the huge number of foreign structures, it is necessary to single out a small list of banks that are very actively gaining popularity among the population.

Deutsche Bank

This is a famous foreign bank in Russia.

From the very name it follows that the organization belongs to a very large concern in Germany. This structure has the following features:

• The main activity is to invest and provide commercial plan services only to enterprises located in Russia.
• Services are not provided to individuals.
• Support is provided only to large private capitals.
• Individual entrepreneurs and small businesses cannot use the services of the financial institution "Deutsche Bank".

All of the above does not prevent the strengthening among Russian banks, and the use of innovative products, as a rule, ensures the transfer of large capital under itscontrol.

Raiffeisenbank

Another foreign bank in Russia.

A subsidiary of the huge Austrian holding Raiffeisen, which is considered one of the most reliable financial structures in the Russian Federation. The following distinguishing features stand out:

• The organization provides a full range of services for individuals and legal entities in Russia.
• Services are available to both residents of the country and foreign citizens who are on a business trip or business trip, they can become clients of this bank.
• A huge number of branches covers the entire Russian market, competing with local banks.

What other banks with foreign capital exist in Russia?

Citibank

This is a full-fledged institution that has been registered on the territory of the Russian Federation for a long time. A huge share of the authorized capital are foreign investments.

A consumer can use a variety of products, and making deposits implies individual conditions. The larger the deposit amount, the more interesting the interest rate.

This bank deals with clients from both the private sector and legal entities. Such a policy allowed him to be a leader among other foreign banks on Russian territory for many years. Loans in foreign banks in Russia are not yet very popular, but everything is ahead.

Credit Suisse Bank

A private bank with foreign capital in Russia that positions itself as a fixed income deposit institution on company shares.

Distinguishing features are:

• Carrying out activities in the field of finance with a license in Russia. The government ensured the issuance of a license among the first foreign organizations that officially established themselves in the Russian money services market.
• Won a large number of awards and prizes, and became very popular with individuals.

OTP Bank

"OTP Bank" is a commercial bank, part of the OTP Group. It is the leader in the financial services market in Eastern and Central Europe. "OTP Bank" is a universal credit organization, its range of services is quite wide, it offers many products to corporate clients, as well as individuals.

Barclays Bank

Mainly takes the place of retail offers. The list of services includes:

• transfers between countries;
• investment in foreign currency;
• provide brokerage services for private equity;
• availability of a wide range of financial products;
• targeting Russian depositors.

It goes without saying that the list of foreign banks that operate in the spaces of our country does not end there, and it can be continued. The aforementioned organizationsqueue are more popular.

The weak participation of our own banking system in our country is a problem of economic development. A number of researchers see a way out of this situation in an increase in lending to the economy by foreign banks. To achieve this goal, you must:

• remove currency restrictions on Russian residents receiving foreign loans;
• eliminate existing quotas in Russia that create boundaries for subsidiaries of foreign banking organizations;
• simplify the registration of banks with foreign participation, and ultimately open up our banking market.

All this will allow opening more branches of foreign banks in Russia.

There are reasonable doubts that foreign banks are able to provide loans in those forms and volumes that satisfy the national interests of the country. At the same time, the likely negative consequences of their activities in Russia are indicated, for example:

• direction of credit funds exclusively to extractive, secondary sectors of the economy;
• an attempt to force banks with Russian capital out of certain market segments;
• support for foreign companies that compete with Russian enterprises;
• influencing the internal political life in the country, etc.

In fact, the owners of foreign banks are closely connected with international companies that are fiercely fighting forsales markets, including in Russia. Foreign banks work for the interests of their countries.

Interest rates on deposits and loans

There is a certain trend: the larger the bank, the lower the interest rate on the deposit. The best conditions for deposits can be found in foreign banks. It is imperative to pay attention to the early termination of the deposit agreement, due to unforeseen circumstances it is easy to lose part of the interest on the deposit.

So, for example, in "UniCredit Bank" the interest on the deposit is 7.5%, in "Raiffeisenbank" - 7%. In all other banks, interest rates are about the same. The average rate on foreign currency deposits is 2.5-3%.

We reviewed representative offices of foreign banks in Russia.