Disclosure among Russian banks is steadily improving, and this year’s ranking in The Banker includes 100 banks, up from just 50 two years ago. The inclusion of extra banks does not, however, change the dominance of state-owned giants at the top of the ranking.
And the state banks have been enjoying a good profit performance as well. VTB and Gazprombank suffered losses in 2009 and 2008, respectively, but in 2010 they joined Sberbank to take the top three spots for largest profits, sharing almost 85% of profits among the 10 most profitable banks.
