Ratingsbackback !
To RBC Home Page   

links on rbcnews.com
News Online
Shares&Bills
Stock Market
Currencies&Credits
Exchanges Online
Ratings
Company&Products
Our Partners
Russian

Top 50 Russian Consumer Banks

Twice as many credits were given in 2003, compared to 2002, i.e. $10.3bn and $4.9bn respectively). As of July 1, 2004, this figure almost reached $12.8bn. According to preliminary estimations, last year people borrowed more money than they had over the previous five years. The growth rates are impressive. The volume of consumer lending doubled amid quite high interest rates that are way higher than the cost of credits for companies. Therefore, according to the Central Bank of Russia, the average interest rate for short-term US-dollar credits reached 8.38% for companies and organizations, and 12.06% for individuals in the fist five months of 2004. The increase in the volume of consumer lending is due not only to economic development, but also the introduction of new credit products for various categories of clients. The dynamic development of consumer lending "warms up" the appearance of another service - insurance against contract default.

According to the Central Bank of Russia, 30 major public consumer creditors occupied 76% of this market by the first half of 2004. Sberbank is number one, which is historically justified. It accounts for 50.95% of the total amount of credits. In 2003 its share was 48.3%, and in 2002 - close to 40%. It is followed by Russian Standard Bank (RSB) with 4.91%, HomeCredit & Finance Bank with 1.91%, Raiffeisenbank Austria with 1.72% and 1st OVK Bank with 1.38%. It is clear that foreign bank subsidiaries create quite a competition for Russian banks.

Consumer lending for a period of one and a half to up to three years (mainly "household" and "automobile" credits) account for 38.5% in the total structure of consumer credits and keeps growing. The number of "household" credits exceeds substantially the number of mortgage credits. A couple of years ago, mortgage lending had been available to employees of foreign companies only. Now, many banks do a favor for their clients. However, this type of lending is in no way a battlefield for players of the lending market yet.

Automobile lending is becoming more and more popular among Russians, but its volumes still remain insignificant. According to preliminary estimations, up to 15% of cars are sold on credit (in the West this figure is close to 80%). At the same time, there are a number of banks, in which automobile lending constitutes a great deal of their credit portfolios. Following a decrease in the refinancing rate early in 2004, automobile credit rates both in US dollars and rubles went down greatly too. Popular marketing instruments, namely image actions arranged by banks in cooperation with car dealers, deserve special attention here. Credits rates are lower, and the difference is covered by car dealers. But the truth is that sometimes this difference is added to the car price.

Experts predict that the hottest period will be in 2005-2006. The Russian consumer lending market will be surging fast (according to various projections, the volume of mortgage lending will go up 1.8 times as much, and automobile lending - 2.5 times). Early in 2004, credits accounted for 3.5% in people's expenditures, which is to be 5% by the end of 2005, the Macroeconomic Research Center of BDO Unicon said.

Many factors facilitate this. Legislation is improving: compulsory notarization of real estate loan agreements, which cost 1.5 percent of the total cost of an apartment on average, has been abolished recently; the banking strategy of the Finance Ministry provides for simplifying the formalities for small loans (not exceeding RUR300,000). Broadening of the service portfolios of banks as well as a decrease in the interest rates and extension of the maturity of loans will support further development of the market. The average annual interest rates for mortgage loans with a maturity period of not more than 3 years were at 27-33% for ruble loans and 17-22% for loans in foreign currency in 2002. At present, the average interest rate for morgage loans in foreign currency is 12%, and some banks offer far lower rates. For example, Raiffeisenbank offers an interest rate of 8 % plus LIBOR (which presently equals 1.5%). However, this bank has stricter rules for selecting clients. The average maturity period for loans has increased from 9-11 years to 25-28 years over the past 2-3 years.

Experts of insurance companies forecast that risks for banks could increase by several times within the next few years: growing competition on this market will make many market participants extend the circle of potential customers, so as to cover middle to lower middle class people (with incomes of less than $500).

 № BankLoans to individuals, $1 0000,5 to 3 year loans, $1 000Total loans, $1 000Short-term loans, %
1SBERBANK (Savings Bank of the Russian Federation)6 482 806546 6136 482 8158,43
2RUSSIAN STANDARD624 898379 901624 99660,78
3HOME CREDIT & FINANCE BANK243 563231 255243 56394,95
4RAIFFEISENBANK AUSTRIA211 268118 150218 87653,98
5FIRST OVK175 570163 042175 80292,74
6CENTRAL OVK156 963133 334156 96684,94
7URALSIB138 379115 218138 37983,26
8SIBERIAN OVK114 513101 163114 51388,34
9CREDIT AGROPROMBANK111 86791 218113 06980,67
10MDM-BANK106 37995 465106 93589,27
11BANK OF MOSCOW94 21466 56094 21470,65
12INTERNATIONAL MOSCOW BANK87 89154 74888 30262,00
13GAZPROMBANK85 75932 26385 76537,62
14ZAPSIBKOMBANK81 11444 60581 14154,97
15КМБ-БАНК80 38379 34480 38398,71
16MOSCOW CREDIT BANK79 90168 76479 92786,03
17SIBAKADEMBANK77 86368 69677 86388,23
18ROSBANK70 95067 27775 27789,37
19DELTACREDIT68 14453672 2160,74
20SURGUTNEFTEGAZBANK71 67736 99971 67751,62
21FAR EAST OVK70 14957 39470 14981,82
22SOBINBANK62 47351 86962 52682,96
23VNESHTORGBANK50 58519 01550 87137,38
24CAPITAL50 48024 41050 48048,35
25GAZBANK49 04537 12549 04575,70
26PROMEK-BANK48 43547 96748 43599,03
27AK BARS46 21439 75846 21486,03
28RUSS-BANK40 44024 30441 47658,60
29SOYUZ39 76838 77039 77797,47
30INDUSTRIAL AND CONSTRUCTION BANK38 33126 58038 34669,32
31MENATEP SPB36 5178 40536 51823,02
32PROMTORGBANK34 63922 53236 46461,79
33UNIASTRUM BANK35 98323 00736 04963,82
34POVOLZHSKOE OVK34 38129 42334 38185,58
35GUTA-BANK34 08923 30834 09468,36
36CHELINDBANK33 63931 55033 63993,79
37CITIBANK 31 04318 34231 41358,39
38URAL TREASURES BANK31 03429 80731 03496,05
39ALFA-BANK30 88410 95331 00435,33
40DELTABANK29 7211 91429 8015,42
41FORA-BANK28 6406 15729 32321,00
42AUTOMOBILE BANKING HOUSE29 29629 20129 29699,67
43INVESTSBERBANK27 54320 88227 54975,80
44SEVERNAYA KAZNA27 32715 83427 32757,94
45EXPOBANK26 91115 59927 16057,43
46ROSSIYSKY KAPITAL26 11710 75926 67240,34
47MOSCOMPRIVATBANK26 10622 10026 51383,36
48PETROKOMMERZ25 93420 00325 93677,13
49PROMSVYAZBANK23 53820 39923 71786,01
50EXTROBANK22 5894 88622 78921,44

* - all data - 1H 2004

http://www.rbc.ru/

Please send your questions and comments to webmaster@rbc.ru
All rights reserved. © 1995 - 2017 RosBusinessConsulting.
Photographs by AP © 2017 Associated Press.
Dow Jones Index data provided by Dow Jones&Company, Inc. Terms of use.
Details of copyright protection and placement of advertisements.