Central Bank of Russia leaves list of systemically important banks unchanged

MOSCOW. Oct 7 (Interfax) - The Central Bank of Russia has kept the list of systemically important credit institutions (SICIs) unchanged, according to a statement on the regulator's website.

The list still consists of 12 banks and includes UniCredit Bank, Gazprombank , Sovcombank , VTB , Alfa-Bank, Sberbank , Credit Bank of Moscow , T-Bank , Promsvyazbank, Raiffeisenbank, Russian Agricultural Bank and DOM.RF bank .

These banks account for around 80% of the total assets of the Russian banking sector.

The Central Bank presented a new methodology for determining SICIs last year, which will take into account the number of clients, the development of ecosystems and significance in the payment services market. The regulator plans to distribute the largest banks into groups with different levels of the capital adequacy ratio surcharge, from 0.5% to 2.5% depending on the scale of business.

Marketplace subsidiary banks could join the ranks of SICIs within two to three years, given their scale in the payments market and their integration into the ecosystem of their parent companies, Central Bank Governor Elvira Nabiullina said.

Currently, SICIs are not divided into groups; a single surcharge of 1% applies to them. The Central Bank planned to begin determining systemically important credit institutions under the new methodology in 2027, and to introduce differentiated surcharges over the course of several years approximately from 2028.