General information
Established in 1990
Sovcombank Group includes a systemically important bank, insurance, leasing, factoring and other financial companies.
Sovcombank is one of the fastest growing and highly profitable financial groups in Russia: over 10 years, the average return on equity (ROE) is 34%, and the compound annual equity growth rate is 42%.
In 2002, when Sovcombank (Buoykombank at the time) was acquired, it had one branch, 17 employees and ₽2 million equity. As at 31.12.2024 Sovcombank was the #3 largest privately-owned bank in Russia by total RAS asset, had a branch network of 2 thousand offices in 1 thousand Russian towns and employed 36 thousand people.
Sovcombank’s strategy is based on a combination of organic and inorganic growth and building a strong presence in high-margin niches with low competition. This strategy enables the Group to increase its profits and ensure capital growth throughout economic cycles, and take advantage of market opportunities. Due to unique product offerings and a combination of organic growth with targeted M&As, the Bank secured a strong position in the market, diversified its business portfolio, and expanded its geographical footprint to cover almost the whole of Russia.
The Group’s business model is based on three key pillars: retail banking, corporate banking and treasury segments contributing equally to the Group’s bottom line. In addition to its banking business, Sovcombank is extensively developing a wide range of non-banking financial services: insurance, leasing, factoring, its own e-procurement platform and e-payments.
