{{Short description|Russian commercial bank}} {{Infobox company | name = Uralsib | traded_as = {{MCX|USBN}} | logo = Logo-bank.JPG | type = Joint-stock company | industry = Banking | fate = | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> | founded = 1993 | founder = <!-- or: | founders = --> | defunct = <!-- {{End date|YYYY|MM|DD}} --> | hq_location_city = Moscow | hq_location_country = Russia | area_served = <!-- or: | areas_served = --> | key_people = | products = | owner = <!-- or: | owners = --> | net_income = RUB 172.589 million (2020)<ref name=ifrs2020>{{Cite web|url=https://www.uralsib.ru/upload/iblock/941/USB_IFRS_2020Y_ENG_signed.pdf|title=Public Joint Stock Company "BANK URALSIB". Consolidated Financial Statements. Year ended 31 December 2020|date=2021-04-20}}</ref> | assets = RUB 505.592 billion (2020)<ref name=ifrs2020 /> | equity = RUB 409.196 billion (2020)<ref name=ifrs2020 /> | num_employees = 10750 | num_employees_year = 2021 | parent = | rating = B2 (Moody's) (2020) B/B (S&P) (2021) | homepage = {{URL|uralsib.ru}} }}
'''Uralsib''' ({{langx|ru|ПАО «Банк Уралсиб»}}) is a Russian commercial bank, headquartered in Moscow. According to Russian Forbes, as of 2022, it was one of the country's largest banks with the net asset value of approximately 530 billion rubles.<ref>{{cite web |url = https://www.forbes.ru/rating/459867-100-nadeznyh-rossijskih-bankov-2022-rejting-forbes |title = 100 надежных российских банков — 2022. Рейтинг Forbes |author = Елена Тофанюк |language=ru |date = 2022 |work = Forbes.ru |accessdate = April 24, 2022 }}</ref>
Uralsib is a successor company to Bashcreditbank (since 2001, known as Ural-Siberian Bank)<ref>{{cite web |url = https://www.kommersant.ru/doc/570609 |title = "Уралсиб" активно слился |author = Ильшат Гайнуллин, Гульчачак Ханнанова |language=ru |date = April 16, 2005 |publisher = Kommersant |accessdate = April 24, 2022 }}</ref> founded in 1993 by Bashkortostan's government.<ref>{{cite web |url = https://www.kommersant.ru/doc/3276083 |title = Наследие "Башкредита" |author = Евгений Маврин |language=ru |date = April 20, 2017 |publisher = Kommersant |accessdate = April 24, 2022 }}</ref><ref>{{cite web |url = https://www.forbes.ru/profile/80256-bank-uralsib?ysclid=l2d2nr5gx1 |title = Банк Уралсиб |author = |language=ru |date = 2022 |work = Forbes.ru |accessdate = April 24, 2022 }}</ref> The bank was created by merging Ural-Siberian Bank and Avtobank-NIKoil in 2005.<ref>{{cite news|title=Two Banks Plan Merger After a 'Rigged' Sale|url=http://old.themoscowtimes.com/sitemap/free/2003/11/article/two-banks-plan-merger-after-a-rigged-sale/234901.html|access-date=28 August 2017|work=The Moscow Times}}</ref> The latter was Nikolai Tsvetkov's company closely affiliated to LUKoil. In 2013, it employed 19,342 people.<ref>{{cite news|title=UralSib Reportedly Planning 20% Staff Reduction|url=https://themoscowtimes.com/articles/uralsib-reportedly-planning-20-staff-reduction-21035|access-date=28 August 2017|language=en}}</ref>
Uralsib is said to have been "roiled by mismanagement", with its founder Tsvetkov agreeing to step down in 2015 in return for a bailout, as the bank was on the verge of bankruptcy and having its banking license revoked.<ref name="intelli">{{cite news|title=Russia's Uralsib brought down to earth as bank puts UK unit up for sale|url=http://www.intellinews.com/russia-s-uralsib-brought-down-to-earth-as-bank-puts-uk-unit-up-for-sale-108789/|access-date=6 April 2017|work=bne IntelliNews}}</ref> During his time as chairman Tsvetkov became known for his application of New Age philosophy to company management, which included requiring all employees to read books by a self-help guru and holding spiritual seminars to determine promotions.<ref>{{cite news|title=New age beliefs fail to help Russian lossmaking Uralsib bank|url=https://www.ft.com/content/2d65d9d8-4c9b-11e5-b558-8a9722977189|access-date=28 August 2017|work=Financial Times}}</ref>
An 82% stake in Uralsib was sold to Vladimir Kogan in November 2015 to avoid bankruptcy.<ref>{{Cite news|last=|first=|date=4 November 2015|title=Putin Ally Secures $1.3 Billion in Unprecedented Bank Rescue|url=https://www.bloomberg.com/news/articles/2015-11-04/top-30-russian-bank-gets-1-3-billion-rescue-as-kogan-takes-over|archive-url=|archive-date=|access-date=2020-07-22|newspaper=Bloomberg}}</ref> As part of a rescue plan, Russia's Deposit Insurance Agency also agreed to a $224 million rescue package for the bank.<ref>{{cite news|title=UPDATE 3-Russian tycoon Kogan takes 82 pct of Uralsib Bank in c.bank rescue|url=https://www.reuters.com/article/bank-uralsib-ma-kogan-idUSL8N12Z2BG20151104|access-date=28 August 2017|work=Reuters|date=2015}}</ref> In 2016 Uralsib was ranked as the second least reliable bank in the country by the Russian version of Forbes.<ref>{{cite news|title=Кредит доверия: рейтинг надежности банков|url=http://www.forbes.ru/rating/315145-kredit-doveriya-reiting-nadezhnosti-bankov|access-date=6 April 2017|work=Forbes Russia}}</ref> In June 2017 Moody's raised the credit rating of Uralsib from Caa1 to B3, reflecting the bank's return to operational profitability.<ref>{{cite web|title=Moody's upgrades Bank Uralsib's deposit ratings to B3 from Caa1; outlook positive|url=https://www.moodys.com/research/Moodys-upgrades-Bank-Uralsibs-deposit-ratings-to-B3-from-Caa1--PR_367696|website=Moodys.com|access-date=28 August 2017|date=5 June 2017}}</ref>
After the death of Vladimir Kogan in 2019,<ref>{{cite web |url = https://www.rbc.ru/finances/20/06/2019/5d0b837e9a79474178922624 |title = Умер владелец "Уралсиба" Владимир Коган |author = Юлия Выродова |language=ru |date = June 20, 2019 |publisher = RBC.ru |accessdate = April 24, 2022 }}</ref> his shares were inherited by a widow, Lyudmila Kogan. The supervisory board of Uralsib is headed by the eldest son of Vladimir Kogan Yevgeny Kogan.<ref>{{Cite web|url=https://www.rbc.ru/finances/16/04/2020/5e989ba69a794704d75fd213|title=Инвестором в рамках санации банка "Уралсиб" стала Людмила Коган|date=2020-04-16|publisher=RBK}}</ref>
At the end of 2019, the bank reported a net profit of 12.8 billion rubles (approx $170 million) and an increase in capital to 94.3 billion rubles (approx $1.27 billion).<ref>{{Cite web|url=https://www.uralsib.ru/company/external-communications/publications/pao-bank-uralsib-soobshchaet-o-rezultatakh-deyatelnosti-za-2019-god-v-sootvetstvii-s-msfo/|title=ПАО "БАНК УРАЛСИБ" сообщает о результатах деятельности за 2019 год в соответствии с МСФО|date=2020-04-22}}</ref>
At the beginning of 2021, The Banker placed Uralsib on the third line of the Top 50 Russian banks (and on the first line in terms of profitability).<ref>{{Cite web|url=https://www.thebanker.com/Banker-Data/Banker-Rankings/Top-50-Russian-Banks-ranking-resilience-tested-by-the-pandemic/|title=Top 50 Russian Banks ranking: resilience tested by the pandemic|date=2021-02-01|publisher=The Banker|access-date=2021-02-25|archive-date=2023-04-09|archive-url=https://web.archive.org/web/20230409135425/https://www.thebanker.com/Banker-Data/Banker-Rankings/Top-50-Russian-Banks-ranking-resilience-tested-by-the-pandemic/|url-status=dead}}</ref> In April 2021, Uralsib Bank entered the Forbes rating of the best banks in the world; it took 13th place among Russian banks.<ref>{{Cite web|url=https://www.forbes.com/worlds-best-banks/#326d2b761295|title=World's best banks|date=2021-04-13|work=Forbes}}</ref>
In February 2024, the Bank of Russia announced the early termination of measures to prevent the bankruptcy of Uralsib and that the bank’s stable financial position had been restored. Uralsib shares on the Moscow Exchange reacted to this message with a sharp increase (more than 20%).<ref>{{Cite web|url=https://www.banki.ru/news/lenta/?id=10999563|title=Акции Уралсиба взлетели после сообщения о завершении оздоровления банка|language=ru|date=2024-02-16|website=Banki.ru}}</ref>
== Activity == Uralsib Bank has the status of a Principal Member of the international payment systems Visa, Mastercard, American Express, Union Pay and the Russian payment system Mir. Bank "Uralsib" performs the function of a third-party processing center of the PS "Mir".<ref>{{Cite web |title=рынок процессинга – технологичный, инновационный, конкурентный |url=https://nbj.ru/publs/rynok-protsessinga-texnologichnyi-innovatsionnyi-konkurentnyi/32539/ |access-date=2022-07-12 |website=nbj.ru |language=ru}}</ref>
On December 12, 2022, Uralsib completed the purchase of Citibank retail loan portfolio.<ref>{{Cite web|url=https://tass.com/economy/1549511|title=Uralsib Bank closes deal to buy Citibank's retail loan portfolio|website=tass.com|date=2022-12-12}}</ref>
On July 24, 2023, the Russian credit rating agency NKR upgraded the rating of Uralsib Bank to A.ru with a “stable” outlook. The assessment took into account the bank's high capital adequacy and low risk appetite.<ref name="example">"[https://www.vbr.ru/banki/yralsib/press/agentstvo-nkr-povisilo-reiting-banka-yralsib-do-aru-so--stabilnim--prognozom/ Агентство НКР повысило рейтинг Банка Уралсиб до A.ru со «Стабильным» прогнозом]". vbr.ru [in Russian]. 23 июля 2023 года.</ref>
== Sanctions == Uralsib Bank was sanctioned by the United States and the United Kingdom on 24 February 2023 in relation to the 2022 Russian invasion of Ukraine.<ref>{{cite web |title=Targeting Key Sectors, Evasion Efforts, and Military Supplies, Treasury Expands and Intensifies Sanctions Against Russia |url=https://home.treasury.gov/news/press-releases/jy1296 |access-date=25 February 2023}}</ref> Increased in December 2023 by the UK to include a prohibition on correspondent banking relationships.<ref>{{cite web |title=Financial Sanctions Notice 15/12/2023 |url=https://assets.publishing.service.gov.uk/media/658057fa95bf65000d719226/Notice_Russia_151223.pdf |date=15 December 2023}}</ref>
Sanctioned by Canada on 22 August 2023 for association with the Putin regime.<ref>{{cite web |title=Russian entities from the military-industrial, financial and nuclear sectors Country: Russia |url=https://www.international.gc.ca/world-monde/issues_development-enjeux_developpement/response_conflict-reponse_conflits/crisis-crises/ukraine-sanctions.aspx?lang=eng |date=23 August 2023}}</ref>
== Management == Board of the bank as of February 2021:<ref>{{Cite web|url=https://www.uralsib.ru/company/rukovodstvo/pravlenie/|title=Правление|language=ru|date=2021-06-10}}</ref> * Aleksei Sazonov (chairman) * Yevgeny Abuzov * Igor Seleznyov * Galina Sergeeva * Pyotr Petrov * Stanislav Tyves
== Honours ==
* Winner of the award "The best in Russia — companies and persons of the Year" in the nomination "Media Bank" (2021)<ref>{{Cite web |title=Лауреаты премии «Лучшие в России - компании и персоны года» (2021) |url=http://2021.best.ru/laureaty |archive-url=https://web.archive.org/web/20220105225305/https://2021.best.ru/laureaty |archive-date=2022-01-05 |language=ru}}</ref> * Winner of the National Banking Award in the nomination "A bank that values its employees" (2021)<ref>{{Cite web |date=2021-12-11 |title=Названы имена победителей Национальной банковской премии - 2021 |url=https://arb.ru/arb/press-on-arb/nazvany_imena_pobediteley_natsionalnoy_bankovskoy_premiey_2021-10523617/ |access-date=2025-04-29 |website=Ассоциация российских банков |language=ru}}</ref>
==References== {{reflist}}
==External links== {{commons category}} * {{official website|http://www.uralsib.com/}} {{Portal|Banks}}
Category:Banks of Russia Category:Companies based in Moscow Category:Companies listed on the Moscow Exchange