30.15About the Bank \ History of the Bank
Bank Saint Petersburg is one of the largest banks in the Northwest region of Russia and the third largest bank in St. Petersburg. The bank’s history started 20 yeas ago when the system of specialized state banks was introduced. On 3 October, 1990 joint-stock company Lenbank was established on the basis of Zhilsotsbank which a year later was to become Bank Saint Petersburg.
The Bank was quickly developing from the first day of its operation and gradually expanded its activities to currency transactions, securities trading, and collection. Dealing operations on international currency and financial market proved to be very successful for the Bank. The Bank has correspondent relations with 130 banks, including foreign ones.
In mid-90s the Bank started issuing bank cards and established its own processing centre that used both chip and magnetic technologies. As plenty of new services were introduced, the Bank became one of the leaders in the city’s banking system.
In times of economic crises of 1996-1998 the Bank did not lose its position and continued to provide high quality services. Besides, the Bank continued to support the most important branches of municipal economy by developing long-term credit programs. In particular, in 1997 the Bank, in collaboration with Allied Irish Bank, developed and implemented a system of management of credit risks.
At the same year the Bank became a Principal Member of Visa International which made it possible to implement a number of large payroll account projects.
In June 1998 the Bank became the first bank to receive permit of the RF Central Bank for cashing ‘card accounts’. The Bank expanded its credit program for importers’ settlement and currency accounts, credits using bank cards and other credit services.
That was also the time when the Bank started to develop its retail strategy. By the beginning of 2000 the Bank was providing over 600 different services based on individual approach to customers and flexible pricing policy.
At the moment the Bank provides services to over 952 thousand private customers and 34 thousand companies at 35 offices in Moscow, St. Petersburg, Nizhny Novgorod and Kaliningrad.
The Bank’s policy is based on the principle of open and transparent business, which has been confirmed by financial statements under IAS prepared by PriceWaterhouseCoopers. The Bank is actively cooperating with international financial institutions, opens new perspectives for development of interbank operations, trade financing and crediting. In 2006 the Bank successfully entered the international financial market: it placed Eurobonds, received a co-loan and became the first bank in St. Petersburg after the crisis of 1998 to receive a credit from EBRD for development of crediting programs for small business.
The Bank’s business strategy is based on the successful experience of the leading European banks. The Bank’s customer policy is aimed to sustain long-term relation with clients. It is based on reliability, individual approach, mobility of service and quick response. The growth in the Bank’s client base is coupled with the increase of the proportion of the clients belonging to the medium market sector. The Bank makes a special emphasis on the development of its retail business: internet-banking, expansion of the regional network, improving bank card services, acquiring, and expansion of credit programs for individuals including mortgage programs.
The key factors of the Bank’s successful development include an ability to quickly respond to the market situation, adherence to the principles of corporate governance, and keeping a high growth rate.
Bank Saint Petersburg, public Russian bank
Bank Saint Petersburg is a large universal commercial private bank in Russia with a stable financial history.
Bank Saint Petersburg, key facts:
- enters top 50 Russian banks,
- one of the largest banks in the Northwest region of Russia,
- the third largest bank in St. Petersburg,
- one of the highest credit ratings among private Russian banks (Moody’s (Ba3)),
- has 35 offices in the biggest cities of Russia,
- offices of the Bank are in Moscow, St. Petersburg, Nizhny Novgorod and Kaliningrad,
- 20 years of successful work at the Russian banking sector and international market
- offering full range of services: personal and corporate banking.
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