Russian banks dominate The Banker’s first analysis of the fastest growing banks in Europe, occupying 19 of the Top 30 places in this unique pan-European assessment. Following the methodology set out below – which included data on Tier 1 capital, total assets and pre-tax profits from 645 institutions across the continent – Russian banks clearly headed the list, reflecting the massive growth in banking in the country since the financial crisis of 1998.
While five of the 19 Russian banks (Bank Petrocommerce, Nomos-Bank, Bank of Moscow, MDM Financial Group and Vnesheconombank) were in our latest Top 1000 World Banks listing, most of the top Russians are relatively small banks thereby making it relatively easy to achieve higher growth figures.
