List of systemically important credit institutions approved

In accordance with Bank of Russia Ordinance No. 3737-U, dated 22 July 2015, ‘On the Methodology for Determining Systemically Important Credit Institutions’, the Bank of Russia annually approves the list of systemically important credit institutions.

Compared to the list approved in 2019, the updated one includes PJSC Sovcombank in view of a number of factors, the size of the credit institution among others. As of 1 October 2020, PJSC Sovcombank comprised 1.5% of the banking sector assets. The list contains 12 banks comprising nearly 74% of the total assets of the Russian banking sector, which exceeds the 60% threshold established by Ordinance No. 3737-U.

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