The number of banks with foreign participation has fallen to 85
The number of banks with the participation of foreigners in the authorized capital in Russia is decreasing. If in January 2024 there were 89 of them, at the beginning of October last year there were already 85, according to the latest current data of the Central Bank. This is the minimum for the last 10 years. Of these, 78 have a universal banking license, and another seven have a basic license.
The reduction in the number of banks with foreign capital is smoothly occurring against the background of the sale of Russian assets by foreign owners, primarily from unfriendly countries, said Ivan Uklein, senior director for bank ratings at Expert RA.
For example, the Russian assets of British HSBC were bought by Expobank, the deal was closed in May 2024, said Natalia Milchakova, a leading analyst at Freedom Finance Global.
She added: another case is the change of ownership of Yandex Bank.
In addition, two more banks liquidated their Russian branches during this period. The first in 2024, in early January, Swiss Cramer & Cie SA closed its representative office in Russia, said Alexei Tarapovsky, founder of Anderida Financial Group.
And in July, the Russian subsidiary of the American Express payment system, American Express Bank, filed a liquidation petition.
Banks from unfriendly countries are becoming less and less comfortable to work in Russia, explained Natalia Milchakova.
Read more in the exclusive material of "Izvestia":
Go abroad: the number of banks with foreign participation has fallen to a 10-year low
