Svoy Bank

JSC "Svoy Bank" is a federal-level online bank, part of the IDF Eurasia holding. The main areas of activity are debit/credit cards, deposits, corporate client services, and secured lending. Entrepreneur lending and cash management services will be introduced in the future.

Svoy Bank was founded in 1995 as Gazneftbank as a financial institution for Gazprom companies. Later, the business was diversified and a retail division appeared. By 2004, the bank joined the Deposit Insurance System, and services for individual lending, debit card issuance, deposits, and products for settlement and cash services and small and medium-sized businesses appeared. In May 2022, the bank was acquired by the IDF Eurasia fintech group, and in autumn, the institution was re-registered in Moscow.

In March 2023, Gazneftbank — part of the IDF Eurasia fintech group — changed its name to "Svoy Bank". Market conditions required a large-scale rebranding with the update of services, website design style, and a change in strategy. The previous business model was restructured, which affected the name of the institution. Previously, Gazneftbank served only Saratov and 2-3 nearby cities, but now it operates across 83 regions of the country. It took less than a year to achieve a federal level in service quality.

The catalog of retail product services was expanded, bank cards appeared, and remote servicing became available. Gazneftbank used to lend to legal entities, so it was not in demand in terms of consumer lending. In fact, it operated as a narrow-specialization regional bank without ambitions, taking its niche where it felt comfortable for a long time. The new owners not only changed the name, but also the main concept – instead of lending, they focused on the digitalization of the business, meeting the requirements of the modern market.

A digital approach and development, with huge work done over the year to introduce new items into the product line with the expansion of financial services. The key drivers for development were the issuance of credit and debit cards, as well as deposits. Debit cards are in demand as an additional tool for managing deposits, and also serve as a standalone product. The simplest way to introduce a client to the bank, its services, and products.

Credit cards were in the highest demand among Svoy Bank clients in 2023 after the rebranding. By the end of the year, the bank was already issuing an average of 3,000 cards per month.

The institution is headed by Irina Mikhailovna Khoroshko – Chairman of the Management Board with the right to make decisions without a power of attorney as a legal entity.

Credit cards:

• Svoya credit card;
• Credit card;
• Svoya card.

Loans:

• Cash;
• Auto-secured.

Deposits:

• Svoy Deposit;
• Vygodny;
• Svoy Savings Account;
• High interest rate.

Svoy Bank has achieved federal-level service quality due to the high demand and quality of services provided to the public:

• available both offline and online – website and mobile app are available;
• credit cards with free cash withdrawal services;
• favorable savings terms – 14-18% with replenishment options;
• low deposit opening amounts – starting from 1,000 RUB;
• issues large cash loans secured by cars and real estate;
• loyal customer approach;
• free regular SMS notifications on news for clients;
• Low full cost of loan (FCL) of 11.75 – 32.97% on loans.