Sovcombank

Sovcombank
FormerlyBuycombank
Company typePublic joint stock company
IndustryBanking
Founded1990
Headquarters
Kostroma
,
Russia
Key people
  • Sergey Khotimskiy
  • Dmitry Gusev
ProductsFinancial services
RUB 39.2 billion (2020)[1]
Total assetsRUB 1483.36 billion (2020)[1]
Total equityRUB 188.259 billion (2020)[1]
OwnerSovco Capital Partners (Russia)
Websitesovcombank.ru/en/about/info
Sovcombank building, Moscow
Sovcombank office (Lenin Avenue in Vyborg)

Sovcombank (Public Joint-Stock Company "Sovcombank", Russian: Совкомбанк) is a Russian privately owned universal bank included in the list of 13 systemically important Russian banks.[2] In terms of assets, it ranks 9th among Russian banks (1,483 billion rubles).[3]

From 1990 its initial name was Buycombank (after former headquarters town Buy in Kostroma region) before been bought and rebranded into Sovcombank and his partners in February 2003.[4]

The main owner of Sovcombank (86.5%) is the Russia-based company JSC Sovco Capital Partners, owned by private Russian shareholders, notably (as of February 2023) the Russian oligarch Matvey Yozhikov owns 90% of Sovco Capital Partners. Minority shareholders of Sovcombank include Public Investment Fund of Saudi Arabia (3.3%), Russia-China Investment Fund (2.0%) and Russia-Japan Investment Fund (1.3%)[5][6] After operating within Netherlands and Luxembourg jurisdiction, from September 2021 the holding company of Russian shareholders of Sovcombank was reregistered in special administrative region of Oktyabrsky island of Kaliningrad oblast in Russia.[7][8]

The bank is subject to international sanctions since February 24, 2022 in response to Russia's invasion of Ukraine.[9]

  1. ^ a b c "IFRS Results 2020 (Eng)". Retrieved 6 April 2021.
  2. ^ "List of systemically important credit institutions approved". Central Bank of Russia. 11 October 2021.
  3. ^ "ИНТЕРФАКС-100. Банки России. Основные показатели деятельности (тыс. рублей) - 2020 г." finmarket.ru (in Russian). Retrieved 6 April 2021.
  4. ^ "General Information". sovcombank.ru. Retrieved 4 August 2021.
  5. ^ "Лица, под контролем либо значительным влиянием которых находится кредитная организация" [Persons who control or have significant influence over the credit institutions] (PDF) (in Russian). Банк России. 8 June 2020. Archived from the original (PDF) on 20 April 2021.
  6. ^ "Sovcombank announces appointment of two new Independent Non-Executive Directors". Sovcombank. 3 September 2021.
  7. ^ "В Калининградском офшоре зарегистрировалась структура Совкомбанка" (in Russian). РБК. 3 September 2021.
  8. ^ "A holding structure of Sovcombank is registered in the SAR on Oktyabrsky Island (Kaliningrad Region)". Kaliningrad Region Development Corporation. 3 September 2021. Retrieved 26 September 2021.
  9. ^ "Russia's Sovcombank to challenge sanctions, starting with Japan -source". Reuters. 3 April 2023.