Sovereign Bank

Sovereign Bank is a universal financial and credit institution. The bank has worked in the Russian banking system since 1995. As of July 14, 2014, the main areas of activity are lending to legal entities and individuals, settlement, cash and deposit services for commercial enterprises, raising public funds in deposits, plastic cards.

In April 2016, the Central Bank revoked the license from the Moscow Sovereign Bank, as the bank pursued a high-risk credit policy related to placing money in low-quality assets, the Bank of Russia explained. The internal control rules of the credit institution in order to counter the legalization (laundering) of proceeds from crime and the financing of terrorism did not comply with the requirements of the regulations of the Central Bank. At the same time, Sovereign Bank was involved in dubious transactions - the withdrawal of funds abroad. The management and owners of the credit institution did not take effective measures to normalize its activities.

History

2025: Ex-deputy chairman Alexander Zemlyansky received 4.5 years in prison for embezzlement of 646 million rubles

On May 27, 2025, the Tushinsky District Court of Moscow sentenced Alexander Zemlyansky, former deputy chairman of the board of Sovereign Bank. He received 4.5 years in prison for embezzlement of almost 650 million rubles from a credit institution. Read more here.