Sberbank Tops Russia’s Most Reliable Banks List

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State-controlled Sberbank and VTB Bank are the most reliable banking institutions in Russia, according to a ratings list published by Forbes on Monday.

State-controlled Sberbank and VTB Bank are the most reliable banking institutions in Russia, according to a ratings list published by Forbes on Monday.

Russia’s largest 100 banks were graded using the estimates of rating agencies in February 2012. The rating scale ranges from the highest level of five points (BBB grade) to the lowest level (two points, or CCC). The most conservative estimates were used if several ratings were available.

Sberbank tops the list with five points and assets of 10.4 trillion rubles ($347 billion) followed by VTB also with five points and assets of 4.1 trillion rubles ($138 billion).

Gazprombank, affiliated with Russian energy giant Gazprom holds third place with four points and assets of 2.4 trillion rubles.

The local subsidiaries of foreign banks, UniCredit Bank, Raiffeisen Bank, Citi Bank, Nordea Bank, Intesa Bank, BNP Paribas, ING Bank Eurasia, Rusfinancebank and DeltaCredit also scored the highest five points on the Forbes List.

Deutsche Bank, a subsidiary of the German banking giant scored only one point on the Forbes scale.

The Russian banks on the Forbes list of the top ten reliable banks also include state-controlled Russian Agricultural Bank (fourth place), Bank of Moscow (fifth place), VTB-24 Bank (sixth place), Alfa-Bank (seventh place) and Rosbank (ninth place).

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