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Official dealer for the Central Bank of Russian Federation in the market for short-term bonds, mediates between Russian investors and US financial institutions, and provides foreign currency transactions, international credit cards.
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Directory of banks for all regions, republics, and autonomous units of Russia, Confederation of Independent States and Baltic States.
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Specialized state bank of the Russian Federation ensuring centralized foreign economic operations, servicing sovereign foreign debt, granting loans and issuing guarantees on behalf of the government.
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Financial Markets Recruitment Discreet, Proactive, Professional
www.whirlwindsearch.com
Comprehensive account of Russian banking, perestroika to the present
www.cornellpress.cornell.edu
Guide to Banks in Russia
Find and use Russian banks to meet a variety of needsThe Russian government keeps very close tabs on foreign investment and foreign banks in Russia. As a result, Russia has allowed only a few international banks to open. However, many Russian commercial banks are strong in international banking and are therefore safe for the investor. You need to research banks very carefully to be certain of their financial stability.
Keep the following in mind when looking for banks in Russia:
1. Focus on banks that will meet your specific needs.
2. Be especially sure you find a bank in Russia that is financially stable.
3. Comparing Russian banks will help you find the right bank out of the many available.
4. Check out the many websites devoted to online Russian banking.
Action Steps
The best contacts and resources to help you get it done
Gather general information about banking in Russia
Information about the banking industry and the general financial state of Russia can be found from the Russian government and from private sources.
I recommend:
The Central Bank of the Russian Federation offers information about banking, exchange rates, interest rates and banking information by region.
Get background information on banks in Russia before doing business or making investments
Get background information on banks in Russia before doing business or making investments
I recommend:
IC Rating lists Russian banks by reliability, independently of the Central Bank’s system. Way to Russia and KPMG both provide articles specifically dealing with issues for foreigners working with Russian banking.
Research particular banks in order to know which banks will best suit your needs
With hundreds of banks of many different types, it is important to make a knowledgeable choice before banking in Russia.
I recommend:
Qualisteam offers a comprehensive list of Russian banks with links to the individual sites. Global Finance has an article about the “best” (most stable) banks in Russia.
Find out about restrictions on banking and foreign banks in Russia
Russia has strict regulations about foreign investment, so it is important to know the rules before starting a business venture.
I recommend:
Despite the government’s restrictions on them, there are several international banks in Russia, including Deutsche Bank and Citibank, the first US bank in Russia, having arrived in 1994.
Tips & Tactics
Helpful advice for making the most of this Guide- Do your research. Banks in Russia can be complicated and are not always easy for the foreign investor to navigate.
