Uralsib
Type | Joint-stock company |
---|---|
MCX: USBN | |
Industry | Banking |
Founded | 1993 |
Headquarters | , Russia |
Revenue | 48,684,100,000 Russian ruble (2017) |
RUB 172.589 million (2020)[1] | |
Total assets | RUB 505.592 billion (2020)[1] |
Total equity | RUB 409.196 billion (2020)[1] |
Number of employees | 10750 (2021) |
Rating | B2 (Moody's) (2020) B/B (S&P) (2021) |
Website | uralsib |
Uralsib (Russian: ПАО «Банк Уралсиб») is a Russian bank. It was created by merging Ural-Siberian Bank and Avtobank-NIKoil.[2] The latter was Nikolai Tsvetkov's company closely affiliated to LUKoil. In 2013 it employed 19,342 people.[3]
Uralsib is said to have been "roiled by mismanagement", with its founder Tsvetkov agreeing to step down in 2015 in return for a bailout, as the bank was on the verge of bankruptcy and having its banking license revoked.[4] During his time as chairman Tsvetkov became known for his application of New Age philosophy to company management, which included requiring all employees to read books by a self-help guru and holding spiritual seminars to determine promotions.[5]
An 82% stake in Uralsib was sold to in November 2015 to avoid bankruptcy.[6] As part of a rescue plan, Russia's Deposit Insurance Agency also agreed to a $224 million rescue package for the bank.[7] In 2016 Uralsib was ranked as the second least reliable bank in the country by the Russian version of Forbes.[8] In June 2017 Moody's raised the credit rating of Uralsib from Caa1 to B3, reflecting the bank's return to operational profitability.[9]
After the death of Vladimir Kogan in 2019, his shares were inherited by a widow, Lyudmila Kogan. The supervisory board of Uralsib is headed by the eldest son of Vladimir Kogan Yevgeny Kogan.[10]
At the end of 2019, the bank reported a net profit of 12.8 billion rubles (approx $170 million) and an increase in capital to 94.3 billion rubles (approx $1.27 billion).[11]
At the beginning of 2021, The Banker placed Uralsib on the third line of the Top 50 Russian banks (and on the first line in terms of profitability).[12] In April 2021, Uralsib Bank entered the Forbes rating of the best banks in the world; it took 13th place among Russian banks.[13]
Management[]
Board of the bank as of February 2021:[14]
- Aleksei Sazonov (chairman)
- Yevgeny Abuzov
- Igor Seleznyov
- Galina Sergeeva
- Pyotr Petrov
- Stanislav Tyves
References[]
- ^ a b c "Public Joint Stock Company "BANK URALSIB". Consolidated Financial Statements. Year ended 31 December 2020" (PDF). 2021-04-20.
- ^ "Two Banks Plan Merger After a 'Rigged' Sale". The Moscow Times. Retrieved 28 August 2017.
- ^ "UralSib Reportedly Planning 20% Staff Reduction". Retrieved 28 August 2017.
- ^ "Russia's Uralsib brought down to earth as bank puts UK unit up for sale". bne IntelliNews. Retrieved 6 April 2017.
- ^ "New age beliefs fail to help Russian lossmaking Uralsib bank". Financial Times. Retrieved 28 August 2017.
- ^ "Putin Ally Secures $1.3 Billion in Unprecedented Bank Rescue". www.bloomberg.com. Retrieved 2020-07-22.
{{cite web}}
: CS1 maint: url-status (link) - ^ "UPDATE 3-Russian tycoon Kogan takes 82 pct of Uralsib Bank in c.bank rescue". Reuters. 2015. Retrieved 28 August 2017.
- ^ "Кредит доверия: рейтинг надежности банков". Forbes Russia. Retrieved 6 April 2017.
- ^ "Moody's upgrades Bank Uralsib's deposit ratings to B3 from Caa1; outlook positive". Moodys.com. 5 June 2017. Retrieved 28 August 2017.
- ^ "Инвестором в рамках санации банка "Уралсиб" стала Людмила Коган". RBK. 2020-04-16.
- ^ "ПАО "БАНК УРАЛСИБ" сообщает о результатах деятельности за 2019 год в соответствии с МСФО". 2020-04-22.
- ^ "Top 50 Russian Banks ranking: resilience tested by the pandemic". The Banker. 2021-02-01.
- ^ "World's best banks". Forbes. 2021-04-13.
- ^ "Правление" (in Russian). 2021-06-10.
External links[]
- Banks of Russia
- Companies based in Moscow
- Companies listed on the Moscow Exchange
- Financial services company stubs
- Russian company stubs