Post Bank, one of Russia’s youngest banks, has huge ambitions. Based on the model used by Leto Bank (a retail lender established by the country’s second largest bank, VTB, in 2012), Post Bank was launched in January 2016 as a joint venture between VTB Bank and Russian Post. It focuses on attracting mass customers and aims to provide traditional bank services – such as deposit taking, unsecured point-of-sales and credit card loans – through both a large and growing branch network and hi-tech services.
“We are looking to build the best digital bank in the country with the maximum physical reach,” says Georgy Gorshkov, first deputy president and chairman of the board of Post Bank. “Last year we opened about 6000 outlets from Kaliningrad to Lake Baikal, which accounts for about three-quarters of the country’s territory. This year, we are adding the Far East and the north Caucasus, so basically we will cover 100% of the Russian regions. At the same time, we are building a very strong digital platform.”
