State banks of Russia

Which banks are considered state-owned

Any bank whose share of assets belongs to the state or any federal structure (for example, Rosatom or Rosimushchestvo) can be considered state-owned. The only difference is the exact percentage of shares held by the Federation.

Thus, state-owned banks are divided into organizations:

• with full state participation;
• with partial state participation;
• with indirect state participation;
• controlled by the state.

There are two other organizations mistakenly considered state-owned: the Central Bank and Vnesheconombank. They are controlled by the Government only conditionally, meaning they are accountable to the State Duma by law. However, the state does not interfere in their activities.

State-owned banks with full participation

Banks with full state participation are financial institutions in which 100% of the shares belong to the state, state structures, or constituents of the country. Examples include JSC Rosselkhozbank (100% of its assets belong to Rosimushchestvo) or JSC MSP Bank (100% of the votes belong to the Federal Corporation for Development of Small and Medium Enterprises).

Banks with partial state participation

Banks with partial state participation are practically the same as those with full participation, except that in this case the state does not own all assets, but only a part of them. PJSC Sberbank is one such organization, with 52.32% of its shares belonging to the Ministry of Finance of the Russian Federation. Another example is AK BARS, 71.87% of which is owned by the Republic of Tatarstan.

Banks with indirect state participation

Indirect state participation in a bank's activities means that the Federation does not own the organization directly, as in previous cases, but through institutions it owns. For example, 96.26% of the shares of JSC BM-Bank belong to PJSC VTB, which in turn is 60.93% owned by Rosimushchestvo.

Banks controlled by the state

Controlled banks are organizations that have had their license revoked or are undergoing bailouts and have a temporary administration. For example, the Central Bank. An example of such an institution is PJSC Trust, where 97.70% of the shares currently belong to the Bank of Russia.

Advantages of state-owned banks over private ones

For depositors (and clients in general), state-owned banks are a synonym for reliability:

1. First, because organizations with state participation will not collapse during a crisis and have a low probability of losing their license, so people keeping their money in these institutions can rest assured they will not suddenly lose their funds.
2. Second, it is state-owned banks that receive government support first, which during crisis times helps maintain the liquidity of the payment system.
3. Third, organizations with state support offer lower interest rates because they have access to cheaper financial resources.

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Is the Central Bank a state-owned bank?

The Central Bank is not a bank in the traditional sense of the word. To understand what the Bank of Russia actually is, let us refer to Federal Law No. 86-FZ "On the Central Bank of the Russian Federation." According to it, the organization performs the following functions:

• in cooperation with the Government, develops and implements monetary policy;
• issues money;
• organizes cash circulation;
• provides loans to banks and organizes their refinancing system;
• sets rules for settlements and banking operations;
• effectively manages gold and foreign exchange reserves;
• is responsible for issuing and revoking licenses of credit institutions;
• supervises the activities of financial organizations;
• registers issues of marketable securities, etc.

Thus, the Bank of Russia does not issue loans to ordinary citizens. The Central Bank's tasks include maintaining the inflation rate, developing and strengthening the state banking system, and ensuring the stability of the financial market.

Full list of state-owned banks in Russia

Banks with state participation are associated by citizens with reliability and stability, because in times of crisis, the state primarily supports them. Therefore, at the end of the article, we provide a complete list of state-owned banks in Russia.

Table 1 — Banks with full state participation

Bank name	Shareholder	Ownership stake
JSC Russian Agricultural Bank	Federal Agency for State Property Management	100%
PJSC Russian National Commercial Bank	Federal Agency for State Property Management	100%
JSC Bank DOM.RF	Federal Agency for State Property Management	100%
PJSC Promsvyazbank	Federal Agency for State Property Management	100%
JSC MSP Bank	Small and Medium Business Corporation	100%
JSC ROSEXIMBANK	Vnesheconombank	100%
LLC Bank Elita	Kaluga Oblast	100%
JSC Roscosmosbank	Roscosmos	100%
JSCB NOVIKOMBANK	Rostec	100%

Table 2 — Banks with partial state participation

 

Bank name	Shareholder	Ownership stake
LLC Sibsocbank	Altai Krai	99,94%
JSC Bank Orenburg	Orenburg Oblast	99,76%
JSC Almazergienbank	Yakutia	98,94%
JSC Bank BRRD	Republic of Crimea	98,14%
JSC VBRR	Rosneft	84,67%
PJSC Bank Yoshkar-Ola	Republic of Mari El	77,91%
PJSC VTB	Federal Agency for State Property Management	60,93%
JSC Pochta Bank	PJSC VTB Federal Agency for State Property Management	In equal shares — 49.99% each
AK BARS	Republic of Tatarstan	71,87%
PJSC Bank ZENIT	Republic of Tatarstan	88,298%
PJSC Sberbank	Ministry of Finance of the Russian Federation	52,32%
KBER Bank of Kazan	Kazan	39,997%
Gazprombank	Federal Agency for State Property Management Gazprom Vnesheconombank	49,87% 41,58% 8,53%
Bank Ekaterinburg	Yekaterinburg	29,29%
Yenisei United Bank	Krasnoyarsk Krai	28,61%
Khakass Municipal Bank	Abakan	26,04%

 

Table 3 — Banks with indirect state participation

 

Bank name	Shareholder	Ownership stake
BM-Bank	PJSC VTB	100%
Kredit Ural Bank	Gazprombank	100%
Rosgosstrakh Bank	Otkritie FC	96,26%
Cetelem Bank	PJSC Sberbank	79,2%