Rosbank
With the consolidation of the OVK banking group in 2004-05, Rosbank has been transformed from a large wholesale financial institution into a large universal bank with a special focus on retail.
A 100% increase in the retail loan book in 2005 led to a doubling of relevant interest income and a sizeable 32% rise in net profits as well as a 42.2% increase in assets and an improved RoE figure of 18%.
With 2.9 million individual customers, 59,000 SMEs and 7000 large corporations, Rosbank is present in all major industrial regions of Russia through its expanding branch network, the second largest as at the end of 2005 with 780 outlets. The OVK integration process was finished in 2005, making Rosbank an important player in car loans, consumer finance, mortgages and household deposits. In June this year, France’s Société Générale acquired a 10% stake in the bank for $317m.
Rosbank chairman Alexander Popov notes: “It is a great honour to be named Bank of the Year 2006 for Russia. In 2006, Rosbank has significantly strengthened its positions in the Russian banking market.
“With permanent expansion in retail and corporate banking, we aim to be Russia’s largest privately owned universal bank. The recent purchase of our shares by Société Générale opens new horizons for our development. We strongly believe that our new partner’s expertise and technology will help Rosbank to achieve outstanding results in the future. Recognition by the The Banker shows that we are on the right path.”
