Financial Standard Commercial Bank Limited is a Russian commercial bank established in 1990. Since then the Bank has been successfully operating at the Russian financial markets, offering its services to a wide range of clients. Our clients are medium and small corporate entities, as well as middle class individuals. Bank provides wide range of banking and services for corporate and private clients, as well as stock market professional's activities and treasury operations through 67 offices including Moscow and Moscow region. As a provider of financial services, the bank operates on the principles of reliability, quality and honesty, and sets high standards of corporate conduct.
As of January 01, 2009 the Bank's own capital currently amounts to 11 mln USD, the assets amount to 65 mln USD. Net Profit for the year 2008 equals to 0,65 mln USD. Bank always maintains a high degree of liquidity of it's assets. The strong risk management system and corporate governance is a fundamental feature of Bank's business principles. Throughout the period of its operation, the Bank has complied with all the normative requirements set by the Bank of Russia.
In selection of new partners and customers, the Bank pursues a fairly conservative policy; in particular, it strictly adheres to the "know your customer" principle. The Bank has a permanent service for the prevention of legalization of incomes derived from criminal activities (money laundering) and terrorist financing. The service ensures the correspondence of operations with customer accounts to all applicable requirements of both Russian and international laws.
The Bank currently has over 1000 private and corporate customers. Major customer segments – small and medium enterprises, private entrepreneurs, wealthy individuals. The core services the Bank offers its customers are opening and keeping of bank accounts, including on-line banking services, deposits, lending, brokerage services and fiduciary management of customer's assets. The largest part of the Bank's income derives from interest earned on credit facilities as well as operations on the currency and securities markets.
The Bank's principal objectives in 2009 include expansion of the range of services and products offered and development of banking information technologies.
Bank currently employs more than 300 members of staff.
Statuses, licenses, memberships ( Top)
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Key products ( Top)
Risk management ( Top)
Risk management is fundamental to Bank business and is an essential element of its operations. The Bank's risk management and control system addresses the following key banking risks: credit risk, liquidity risk, operational risk, and market risk (including foreign exchange risk and interest rate risk). Bank risk management policies and procedures are designed to identify and analyze those risks, prescribe appropriate risk limitations and monitor the level and incidence of such risks on an on-going basis.
Key financial indicators ( Top)
Structure of the Bank's credit portfolio ( Top)
Corporate governance and management of the Bank ( Top)
In line with general Russian banking practice, the Bank is managed through a multi-tier system of governing bodies comprised of the General Shareholders Meeting, the Board of Directors, the Management Board and the Chairman of the Management Board.
The day-to-day management and administration of the Bank is carried out by the Management Board and the Chairman of the Management Board. The Board of Directors and Management Board both pay a special attention to the quality of corporate governance of the Bank, constantly improving the structure and methods of management. Bank has the special system of internal control, which allows controlling the Bank's activity, including: risk management functioning, operating power distribution, information flows management and information security ensuring.
Bank operates in strict accordance with requirements of Quality Management System (QMS) since 2006, which applies to all types of banking activities, affirming the quality management processes, standard procedures, IT processes, customer service. QMS of the Bank is certified due to the requirements of the International Standard ISO 9001:2000 (Certificate N 212588 dd. 03 April 2007).
In March 2009 Financial Standard Commercial Bank Limited successfully completed Second surveillance audit of QMS for compliance with the requirements of the International Standard ISO 9001:2008.
Ownership structure ( Top)
There are five corporate shareholders each owning 20 % of Bank's shares.
General information ( Top)
Memorandum and Articles of Association ( Top)