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PJSC Sovcombank is the Russian universal bank with head office in Kostroma.

Hotimsky Sergey Vladimirovich - 19,83%


Revenue and Net Profit millions Thousand rub

Number of employees
2018 year



+ Sovcombank

General license No. 963 for banking operations, is issued by the Central Bank of Russian Federation. The licenses for performing transactions with securities and depository activity issued by Federal Commission for the Securities Market.


According to the reporting of group of Sovcombank, its 100% the owner is the SovCo Capital Partners N.V company registered in the Netherlands. At the same time for December 31, 2017 the Sovcombank was not under the actual control of any one legal entity or physical person. Sovco Capital Partners N.V. belongs to group of the Russian businessmen, including key members of the administrative board and the supervisory board of credit institution, but is not under control of any beneficial owner.

Sovco Capital Partners N.V. - tax resident of the Russian Federation

For December, 2014 key beneficiaries of bank were:

  • businessman Paweê Fuchs (24.48%),
  • founders of bank brothers Sergey and Dmitry Hotimskiye (19.83% and 10.81%),
  • Mikhail Klyukin (12.29%).


The Sovcombank according to the results of the first quarter 2018 took the 14th place by the amount of assets in the ranking Interfax-100 prepared by Interfax-CEA.

According to data of the reporting published on the website of the Central Bank, for April, 2018 the bank takes the 16th place by the amount of assets (689 billion rubles), the capital of credit institution is 70 billion rubles.

The network of service of bank includes 2,418 offices (including 2,087 mini-offices) which are in 74 territorial subjects of the Russian Federation and also 4,119 ATMs and terminals on acceptance of cash.

The bank is one of leaders of the debt market in the field of the organization of bonded releases, enters in top-10 autocredit banks and also takes the 3rd place on the volume of the credits to territorial subjects of the Russian Federation and municipal entities.

The group services 2.7 million borrowers (138.3 billion rubles) and 0.5 million investors (301.5 billion rubles) and also 170 thousand legal entities (the loan portfolio - 80 billion rubles, a portfolio of deposits - 118, 4 billion rubles). The number of employees is 11,480 people.

The Sovcombank provides employment to more than 11.5 thousand people.

The reporting under IFRS of Sovcombank for 2018 is audited by the international auditing company Ernst & Young (Ernst & Young).

The supervisory board

For April, 2018 the supervisory board of bank consists of seven people: five largest final beneficiaries of bank, one board member of bank and one independent director. The supervisory board of Bank is headed by Mikhail Kuchment.

Performance Indicators

2018: Net profit of 18 billion rubles

Profit on regular business grew by 21% up to 23.5 billion rubles in comparison with 19.5 billion rubles in 2017, reported in the information letter of Sovcombank.

'The Sovcombank saved high profitability of the capital, despite interest rates reduction in the market and keen competition with national banks. Net profit for 2018 was about 18 billion rubles. The reason of decrease arrived in comparison with 2017 – significant decrease in a transitory income against the background of revenue growth from core business. In addition, decrease in net profit was influenced by expenses on the Halvah project. The project develops better than our expectations, but requires initial investments which will pay off in the next 2 years', reported in the letter

The capital of bank grew by 34% from 85 billion rubles for January 1, 2018 up to 114 billion rubles for January 31, 2018 generally at the expense of net profit in a year (18 billion rubles), the investment attraction in the capital of bank on 10 billion rubles and placements of the subordinated bonds.

The retail credit portfolio grew by 39% up to 190 billion rubles generally at the expense of the low-risk mortgage credits (car loans/mortgage). The corporate portfolio, including the credits and bonds, grew by 20% up to 577 billion rubles, generally due to accession of Rosevrobank to Sovcombank in the second half of 2018.

Rosevrobank accession. In 2018 acquisition of 100% of Rosevrobank is complete. Managing shareholders of Rosevrobank – Ilya Brodsky and Andrey Suzdaltsev became shareholders of the united bank. According to the results of the transaction assets of Sovcombank grew by 187 billion rubles.

Dmitry Gusev, Chairman of the board of PJSC Sovcombank: "In 2018 the Bank could integrate successfully and quickly into the structure Rosevrobank business, having gained considerable synergy effect on all key indicators. In many respects thanks to this transaction and also verified and effective strategy last year several largest foreign sovereign funds became shareholders of Bank. Harmonious work of a command and an effective business model allowed us to increase the capital by 34%, and assets – for 40%. The Sovcombank provides employment already to more than 16 thousand people and services 4.4 million clients in 2.6 thousand offices through the whole country".

The portfolio of the Halvah cards for 2018 grew from 4 to 17 billion rubles. From the moment of a release of the card to the market its portfolio doubles each 6 months. By the end of 2018 about 2.8 million cards were issued, and the partner network of Halvah grew to 153 thousand shops.

The customer base of bank increased in all segments: the number of retail clients grew by 38% up to 4.4 million people, clients of legal entities – for 18% up to 200 thousand. The branch network of Bank grew by 10% up to 2648 offices in 75 territorial subjects of the federation. The Sovcombank provides access of 514 thousand companies of small and medium business to public procurements through own digital platform.

Information technologies in Sovcombank


Start of remote issue of a mortgage

On May 27, 2020 the Sovcombank announced the beginning of issue mortgage loans for purchase of the real estate in primary market remotely. All process from consideration of the mortgage request before issuance of credit takes place without visit of office using the strengthened qualified electronic signatures.

In May the bank carried out the first transaction in a remote format. The credit was issued on acquisition of the apartment under the agreement of individual share in St. Petersburg (Glorax Development Group is the residential complex "English mile").

Process of remote signing of mortgage transactions is transferred to commercial operation and is available not only acting, but also to potential clients of Sovcombank.

After piloting we are ready to carry out issue of mortgage loans in primary market completely in a remote format is a necessary step that clients for whom it is important could carry out mortgage transactions, without leaving the house,
told Sergey Hotimsky, the first deputy chairman of the board of Sovcombank

Connection to Digital Profile service

On May 21, 2020 the Sovcombank announced connection to the Digital Profile service brought into commercial operation by the Ministry of digital development, communication and mass communications of the Russian Federation and the Bank of Russia.

The service will allow citizens to submit remotely applications for receiving the credits, on the website of Sovcombank, by providing to a databank about the borrower from "a digital profile" from the website Gosuslug. At the first stage the option of submission of requests for monetary credits will be available to clients of Sovcombank.

"The digital profile" is a service through which financial institutions can receive the necessary data which are stored about citizens in different databases (FTS, Rosreestr, the Ministry of Internal Affairs, RPF and others). Thus, remote interaction of clients and banks without the need for additional providing documents will be implemented. It is extremely important that it is possible to obtain such information only with the consent of the client which is stored in the unified register of digital soglasiya.

For us it is extremely important to be in vanguard of innovations in the field of customer service which will simplify relationship of bank and the client on both sides. Service "digital profile" in this plan is special as allows clients to submit easily applications for the credits without visit of office and collecting of documents, and to bank to obtain reliable and up-to-date information about credit quality of the borrower. In the long term this service can become the key driver of increase in digitalization of bank clients, and, thus, the landscape and infrastructure of retail business of banks will undergo significant changes,




Transfer of employees to work with accommodation at office

At the end of April, 2020 the Russian banks began to transfer employees to work with accommodation at offices. The first such opportunity is implemented by Sovcombank and Zenit. Banks promise for it the raised salaries and bonuses. Read more here.

The Sovcombank consolidated 100% of stocks of the Sollers-Finance leasing company

Paid 1.2 billion rubles for a half of the Sovcombank Sollers-Finance leasing company. As a result of the transaction the bank consolidated 100% of stocks of the leasing company.

Assessment of the company was the lowest, proceeding from the known transactions in the leasing market. Discount could be provided with rather small size of the company and also concentration of its funding on the bank. Transition Sollers-Finansa to bank reflects the outlined trend on an exit of credit institutions to more marginal spheres and also the increased sensitivity of the leasing companies to the cost of funding which reduction in cost can be reached at the expense of reference bank.

The bank redeemed a share in 50% from Sollers carmaker of Vadim Shvetsov. Purchase price Sollers-Finansa corresponds 4.2 net profits (Net Income, NI) to the leasing company in a year, proceeding from IFRS on the middle of 2019. Read more here.

Completion of acquisition of 99.99% of the stocks "Liberti Strakhovaniya"

In December, 2016 the Sovcombank announced signing of the binding agreement with the property insurer and accidents of Liberty Mutual Group about acquisition of Liberti Strakhovaniye (JSC), the Russian company of the Liberty Mutual group[1]. The transaction was closed in February, 2020 therefore the bank acquired 99.99% of shares of insurance company. Read more here.

Entry of representatives of Sovcombank into Board of Directors of Just AI

On January 23, 2020 Just AI, the developer of technologies of colloquial artificial intelligence, announced closing of transactions with strategic partners – PJSC Sovcombank and PJSC MTS. The cumulative share of investors in the capital of Just AI made 22.5% at the overall market assessment of the company in 40 million dollars. Representatives of MTS and Sovcombank joined the board Just AI as observers. Read more here.


Staff of criminal investigation department also found 8 million rub stolen from Sovcombank

At the beginning of October, 2019 the robber with a gun robbed Sovcombank and took away two number packets prepared for collection. He managed to spend a quarter of the amount - bought BMW X5, the Quando watch, two phones Huawei and Samsung. The rest and remained untouched in bank packagings. It was not necessary to look for it long - he lived in 5 km from office of bank.

The Sovcombank invested in the developer of services of robotization of contact centers

In April, 2019 the Sovcombank announced Atsaeros (A) purchase of 25%. The Sovcombank acts as exclusively financial investor, and will not participate in operational management by the company. Read more here.


Transition of GMCS and "BTE" companies to the structure of Sovcombank

In October, 2018 the GMCS company which is engaged in implementation of business solutions and software development left the structure of Maykor and joined group Sovcombank, told TAdviser in GMCS. Bank purchased 100% of shares of GMCS Management at the company which is based on Cyprus "Dzhi. Em. Si. Es. Limited". Transaction amount was 500 million rubles.

Since November, 2018 Sovcombank also from shares about 75% of authorized capital are registered as the cofounder of the BTE company specializing in service support and delivery of ATMs, POS terminals, the cash equipment. Read more here.

Plans of purchase of a minority share in bank by the Russian-Chinese investment fund

On June 7, 2018 it became known that the Russian-Chinese investment fund (RDIF and China Investment Corporation is created) is going to invest in Sovcombank, it it has to be announced on June 08 within the visit of the Russian President Vladimir Putin to China, reported to Interfax the source familiar with materials for a visit.

It is about acquisition of a minority share, the interlocutor of the agency told. He did not begin to open the amount of investments. Preparation of the transaction on investments of RKIF into Sovcombank was confirmed to the agency by one more source familiar with its discussion.

Purchase of the operator of the Halvah card - Sovkomkard - for 1.1 billion rub

On April 5, 2018 it became known that the Sovcombank received control over the operator of the bank card Halvah - Sovkomkard company. Transaction amount as a result of which the bank was acquired by Sovkomkard in 100 percent property was 1.106 billion rubles, follows from the reporting of credit institution.

"According to the decision of the supervisory board of group [Sovcombank] in February, 2018 the Sovcombank purchased 100% of shares in Sovkomkard LLC at the third parties for 1,106 million rubles", - it is specified in the reporting.

The Sovkomkard company was founded in 2017 for development of the draft of the map of payment by installments Halvah and is an owner of the Halvah trademark in the territory of the Russian Federation. The project began work in March, expenses of bank on its advertizing made in 2017 997 million rubles[2].

For April, 2018 the fair value estimate of the identified net assets and obligations of Sovkomkard LLC is not completed, said in the reporting yet.

FAS approved the request of Sovcombank for purchase of 54.67% of stocks of Rosevrobank

The Federal Antimonopoly Service of the Russian Federation (FAS) approved the request of Sovcombank for purchase of 54.67% of stocks of Rosevrobank. It is said in materials of department. At the moment the Sovcombank possesses 45.34% of Rosevrobank.

"FAS considered the petition for acquisition of PJSC Sovcombank of 54.67% of voting shares of JSB Rosevrobank... also made the decision on the satisfaction of this petition", said in the document.

Until the end of 2018 credit institutions will perform banking activity separately from each other, the chairman of the board of Sovcombank Dmitry Gusev said. And after consolidation the bank, most likely, will work at the license of Sovcombank, but the plan of integration is not defined yet – the team of experts of two banks will be engaged in it, he specified. Rosevrobank after consolidation will become a core of corporate business, Gusev explained.

The cost of the transaction does not reveal.

Assets of Sovcombank for February 1, 2018 were estimated at 708.9 billion rubles, Rosevrobank – 204.75 billion rubles.

The agreement on Rosevrobank accession is reached

In March, 2018 shareholders of Sovcombank and Rosevrobank reached the agreement in principle upon merge of banks. Assets of the joint banking group will be more than 1 trillion rubles, the capital will exceed 100 billion rubles, reported in the press service of Sovcombank. Analysts consider that  the united bank will enter in top-3 private banks of Russia by the amount of assets and the capital, added in the press service.

Assets of Sovcombank for February 1, 2018 were estimated at 708.9 billion rubles.

Increase in a share in Rosevrobank up to 45%

On January 30, 2018 it became known that the Sovcombank closed the transaction on acquisition at the European Bank for Reconstruction and Development (EBRD) of 11% of Rosevrobank, having increased the share to 45%, the Sovcombank reported. The cost of a packet does not reveal.

"Investments into Rosevrobank yield steadily high dividend income and increase in value", - the bank commented on completion of the transaction with reference to the chairman of the board of Sovcombank Dmitry Gusev.

The Sovcombank estimates previously the net profit of Rosevrobank in 2017 at the level of about 5 billion rubles, expecting that in total this bank will direct about 2 billion rubles to dividends.

In 2017 representatives of both banks did not exclude consolidation.


The profit of 29.5 billion rub, growth of the capital by 34% to 85 billion rub

The net profit of PJSC Sovcombank for 2017 according to IFRS was 29.5 billion rubles, and the capital grew by 34% to 85 billion rubles. Profitability of the capital (ROE) made 40% in 2017 (in 2016 — 41%).

Assets of bank grew for 2017 by 22% generally due to growth of the portfolio of securities — for 22% and also growth of the loan portfolio — for 12%. For December 31, 2017 assets were 689 billion rubles.

Net profit for 2017 was reduced by 12% in comparison with net profit for 2016 owing to smaller revaluation of a securities portfolio in 2017 (12 billion rubles in 2017 in comparison with 17 billion rubles in 2016).

Net profit from regular banking business (i.e. without not repeating income) grew in 2017 by 19% to 20 billion rubles in comparison with 16 billion rubles in 2016. Growth of this indicator corresponds to growth of assets. The Sovcombank managed to save high profitability of business, despite interest rates reduction in the market. Growth of a net interest income in 2017 was 19% (this indicator grew from 28 billion rubles in 2016 to 33 billion rubles in 2017), and net commission income — for 41% in 2017 (growth from 13 billion rubles in 2016 up to 18 billion rubles in 2017).

Expenses on creation of reserves on the loan portfolio were cut down in 2017 up to 4 billion rubles from 5 billion rubles in 2016, and risk cost in percentage terms in 2017 fell up to 1.7% (in 2016 — 2.3%). The covering of the problem credits the created reserves increased from 125% in 2016 to 141% in 2017.

Sergey Hotimsky, the first deputy chairman of the board of PJSC Sovcombank: "At the end of 2017 we with satisfaction note significant profit increase from regular transactions, including, interest and commission income in retail business. In the market of mortgage crediting of natural persons the bank was included into the five of the largest autocredit banks and in top-20 mortgage banks, having improved at the same time quality of the loan portfolio. It allowed to save high growth rates of assets and the capital of bank".

In 2017 three rating agencies improved credit ratings of Sovcombank.

In July, 2017 the Moody's agency improved credit rating of Sovcombank to "Ba3" on the international scale in connection with "steadily high financial results and gain of a business profile of bank".

In October, 2017 the AKRA agency improved credit rating of bank to "And" on a national scale. The agency proved increase in credit rating by "steadily high quality of assets of Sovcombank throughout a business cycle".

In November, 2017 the S&P agency improved credit rating of Sovcombank to "VV-" on the international scale in connection with "increase in a market share of bank and increase in diversification of business" and also in communication "with stronger, than at comparable banks financial performance, despite unsuccessful macroeconomic conditions in Russia".

In September, 2017 the Fitch Ratings agency noted "strong financial performance of Sovcombank, in particular, its long history of maintenance of high-quality assets and high profitability" and confirmed credit rating of bank at the VV — level. In March, 2018 the agency improved the forecast for bank rating from stable on positive.

Dmitry Gusev, chairman of the board of PJSC Sovcombank: "In recent years we managed to gather the unique team capable at the same time to solve three major problems in Bank: profitability, transparency and asset diversification. Despite the difficult external environment, bank continues effectively and it is transparent to develop. Thanks to the verified strategy according to the results of last year we could increase the capital by 34%, and assets — for 21%".

2100 departments in 75 regions of the Russian Federation

For the end of 2017 PJSC Sovcombank enters in top-20 the Russian banks by the size of net assets, locates network from more than 2100 departments and offices in 75 regions of Russia. The bank is one of leaders of the debt market in the field of the organization of bonded releases, enters in top-10 autocredit banks and also takes the 3rd place on the volume of the credits to territorial subjects of the Russian Federation and municipal entities.

Increase in a share in Rosevrobank up to 34.34%

In December, 2017 it became known that the Sovcombank increased a share in Rosevrobank, follows from materials of disclosure of bank. Now it controls 34.34% of Rosevrobank (24.34% – directly, 10% – through REG Holding (integrates the Russian shareholders of Rosevrobank).

The Sovcombank purchased a share block in 5.7%, the German investment fund DEG acted as the seller, the chairman of the board of Sovcombank Dmitry Gusev told through the press service. He refused to call transaction amount, having added that purchase took place on own means of bank. Gusev assumed that in 2018 the Sovcombank will redeem a share in Rosevrobank from the EBRD.

Earlier the Sovcombank got permission of FAS to increase in a share in Rosevrobank. Then Gusev did not exclude that the Sovcombank can redeem shares from the EBRD and DEG together with founders of Rosevrobank.

"In connection with the sanctions the American, European investors often have no opportunity to remain among shareholders of the Russian issuers", – reported in the press service of Rosevrobank.

There is no arrangement on consolidation of banks now, added in Rosevrobank, however such succession of events is possible in the future.

Sale of 10% of stocks in RTI

In December, 2017 it became known that the Sovcombank lowered an equity interest of the largest Russian holding in the field of defense and microelectronic solutions - JSC RTI - from 10% to 0%. It is said in materials of bank. Date of the termination of the basis to dispose of shares specifies on December 25.

In April, 2016 AFK "Sistema" sold to Sovcombank 10% of RTI holding. Now System possesses 71.7% of RTI.

Sale of 24% of Modulbank to Artem Avetisyan

On December 18, 2017 it became known that the Sovcombank sold 24% of Modulbank redeemed in the spring of 2016 from Uniastrum Bank. As the first deputy chairman of board of Sovcombank Sergey Hotimsky reported Interfax, funds from sale it is going to allocate for replenishment of the capital of bank. "Sold to Artem Avetisyan. We do not disclose the price" — he said.

The Sovcombank in March, 2016 took at Uniastrum Bank 9.99% of shares of Modulbank for 415.5 million rubles. In May, 2016 the Sovcombank purchased another 14.01% of Modulbank for 582.7 million rubles at Uniastrum Bank, having increased a share in it to 24%.

Increase in a share in Rosevrobank up to 29%

In October, 2017 the Sovcombank announced purchase of 9.16% of stocks of Rosevrobank, thus having increased the share to 29%. The transaction was closed last week, says bank. Sold a share REG Holding, holding structure of REB which integrates the Russian shareholders of bank, Dmitry Gusev explained through the representative of the chairman of the board of Sovcombank.

Transaction amount "was close to the capital", Gusev told through the press service. Answered a question of transaction amount also in the press service of Rosevrobank. For September 1, 2017 own means of Rosevrobank made 33.4 billion rubles, so, the selling price could be about 3 billion rubles.

Start of the card of payment by installments Halvah

In 2017 the Sovcombank presented at the Russian lending market a new product — the card of payment by installments Halvah combining in itself the principles of operation of the classical credit card and a consumer commodity loan.


Plans of carrying out the IPO at the Moscow Exchange

In June, 2016 it was reported that the Sovcombank in the long term considers the possibility of carrying out the IPO at the Moscow Exchange.

Purchase of "subsidiary" of the Turkish Garanti Bank in the Russian Federation for $40 million

The Turkish bank Garanti announced sale of child JSC CB Garanti Bank — Moscow to Sovcombank for 40.455 million dollars.

On materials of media, Garanti will sell 1729 shares, 99.94% of authorized capital of Garanti Bank — Moscow commercial bank, and one action representing 0.04% of authorized capital of the Russian "subsidiary" belonging [3].

Share transfer will be complete after receiving approval from regulating authorities. The transaction can be corrected before end of formalities with share transfer.

Purchase of GE Money Bank, Metcombank and Russian department of Nordea

In 2014 — 2016 the Sovcombank also closed transactions on acquisition and integration banks GE Money Bank and Vologda "Metcombank" and also redeemed retail business of the Russian subsidiary bank of the Scandinavian group Nordea.

2015: Issuance of credit in 4 billion rub of Softline for 5 years

In January, 2016 Softline announced attraction of financing from Sovcombank in the form of the mezzanine credit of 4 billion rubles of 5 years. In more detail on to the link.

2014: Acquisition of Russian "subsidiary" of ICICI Bank

In 2014 Sovcombank acquired Aysiaysiay Bank Evraziya, child structure of the Indian ICICI Bank.

As of 2014 Sovcombank enters in top-50 the largest Russian banks by the amount of assets. The bank specializes in retail services for pensioners, its network consists from more than 2 thousand offices in 35 regions of Russia.

2012: Nikolay Zhuravlev's acquaintances strongly help bank

Future senator Nikolay Zhuravlev in many respects was the generator of successful development of bank - was on friendly terms with the governor of the Kostroma region to the Rush family (his son Konstantin for 2019 works in Sovcombank charitable foundation) and Victor Khristenko-Tatyana's family of Golikova. Zhuravlev got acquainted with them thanks to the fact that he owned the Avtodetal plant and worked about Vadim Shvetsov's Sollers (they had joint venture). Shvetsov was a husband of the daughter of Khristenko.

In bank state clients - VEB Leasing, FLK and pharmaceutical R-Pharm of Alexey Repik appeared.

2004: Obtaining general license of the Central Bank

In 2004 the Sovcombank obtained the General license of the Bank of Russia for banking operations (No. 963).

2003: Renaming into Sovcombank and transfer of head office into Kostroma

In 2003 the head office was moved to the city of Kostroma, and the bank is renamed into Sovcombank.

1990: Foundation of Buykombank in Kostroma

In 1990 in the Buoy's city of the Kostroma region founded Buykombank.