Category: Russian Finance

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Financial news: Information on applications received for inclusion in the List of self-regulatory organizations of arbitration managers.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Came into force on January 11, 2016 Federal Law of July 13, 2015 No. 223-FZ "On self-regulatory organizations in the financial market and on amendments to Articles 2 and 6 of the Federal Law "On Amendments to Certain Legislative Acts of the Russian Federation" (hereinafter referred to as the Law), which regulates the procedure for obtaining the status of a self-regulatory organization in the financial market (hereinafter referred to as SRO), requirements for governing bodies, basic and internal standards for the activities of SROs, as well as relations arising between financial organizations and SROs.

According to Article 26 of the Law, the Bank of Russia maintains a unified register in the financial market, which contains the name of the SRO, the date of the decision on inclusion in the register, the types of activities in relation to which the SRO carries out self-regulation, the TIN, OGRN, address, and a list of SRO members.

According to Article 33 of the Law, self-regulatory organizations uniting credit consumer cooperatives were included in the unified register of self-regulatory organizations in the financial market from the date of entry into force of the Law and were assigned the status of SRO.

The law provides for the obligation for financial organizations listed in Part 1 of Article 3 of the Law to become a member of one of the self-regulatory organizations within one hundred and eighty days from the date the non-profit organization receives the status of a self-regulatory organization in the financial market in relation to the type of activity carried out by the financial organization.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Sovcombank has been named one of the top reliable banks in Russia, becoming a two-time winner of the Financial Elite of Russia award.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Sovcombank Press Service

Sovcombank confirmed its status as a leader in the financial market and strengthened its position among the country's most reliable banks by winning the 20th anniversary "Financial Elite of Russia" Award in two key categories: "Reliability" and "Innovative Development." The awards ceremony took place on February 11 at the reception hall of the Main Directorate of the Pension Fund of the Russian Ministry of Foreign Affairs.

Experts and the professional community noted the bank's financial stability, transparency, and high level of business reputation and trust.

These two awards reflect the bank's balanced strategy: a long-standing business reputation and financial stability go hand in hand with technological leadership. Innovation at Sovcombank has long ceased to be a separate area – it has become the foundation of the business. A systematic approach to development enables the implementation of cutting-edge technologies, making them accessible to both large corporations and private clients.

The scale of the business, financial stability, and reputation built over many years of operation form the foundation of trust that is projected for decades to come.

"Thank you to the jury for their high praise and attention to our work. A special thank you to our clients. You are our greatest inspirations. Your ambitious goals drive us to constantly seek new solutions and stay one step ahead. And our most important focus is our team. You guys are geniuses and drivers of progress! Thank you for every breakthrough, for believing that no problem is unsolvable. This award is a testament to our shared success!" said Andrey Panarin, Managing Director of Sovcombank's Corporate and Investment Business Development Department.

*Sovcombank is included in the list of systemically important credit institutions of the Russian Federation (data from the Central Bank of the Russian Federation, 07.10.2025). The Bank's credit ratings: Expert RA – ruAA, stable; ACRA – AA, stable; NCR – AA, stable.

PJSC "Sovcombank", TIN 4401116480, ID a-485 erid: F7NfYUJCUneTUxGwCLXA

19:30 02/12/2026

Source: Sovcombank Press Service

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Clarifications: Questions regarding the compilation and submission of internal accounting data to the Bank of Russia in XBRL-CSV format.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Updated: February 6, 2026

Section 1 contains information on brokerage or trust management agreements under which services are provided to clients, as well as other agreements, information on which, in the opinion of the reporting organization, must be reflected in connection with the reflection of information in Sections 2–11 of the Information.

In the event of a change in the terms of concluded contracts, including the terms described in paragraphs 2.14–2.25 of the Procedure, information about such fact is reflected in Section 1 as a separate line indicating the date of amendments to the terms of the contract for the group of analytical features “Date of entry into force of the terms of the contract”.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Information on the submission of a proposal to the bankruptcy trustee to present his candidacy to the arbitration court in the bankruptcy case of a financial institution.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Came into force on January 11, 2016 Federal Law of July 13, 2015 No. 223-FZ "On self-regulatory organizations in the financial market and on amendments to Articles 2 and 6 of the Federal Law "On Amendments to Certain Legislative Acts of the Russian Federation" (hereinafter referred to as the Law), which regulates the procedure for obtaining the status of a self-regulatory organization in the financial market (hereinafter referred to as SRO), requirements for governing bodies, basic and internal standards for the activities of SROs, as well as relations arising between financial organizations and SROs.

According to Article 26 of the Law, the Bank of Russia maintains a unified register in the financial market, which contains the name of the SRO, the date of the decision on inclusion in the register, the types of activities in relation to which the SRO carries out self-regulation, the TIN, OGRN, address, and a list of SRO members.

According to Article 33 of the Law, self-regulatory organizations uniting credit consumer cooperatives were included in the unified register of self-regulatory organizations in the financial market from the date of entry into force of the Law and were assigned the status of SRO.

The law provides for the obligation for financial organizations listed in Part 1 of Article 3 of the Law to become a member of one of the self-regulatory organizations within one hundred and eighty days from the date the non-profit organization receives the status of a self-regulatory organization in the financial market in relation to the type of activity carried out by the financial organization.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Sovcombank ranked among the top retail banks for digital maturity.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Sovcombank Press Service

In the "Best Service for Unauthorized Clients in Digital Channels" category, Sovcombank was recognized by Naumen for its accessibility of information and convenient transition from information to registration. In the "Operational CX Leader" category, DMGlobal recognized the bank for the efficiency of its internal processes, sophisticated automation of client scenarios, and channel integration.

"Real service is when you don't notice the technology, but feel only care. We're changing our approach: every click should be based not just on an algorithm, but on personal responsibility to the client. We're actively developing this area so you can feel the support of specific people, even on digital channels. Market recognition confirms that we're on the right track. Becoming a leading bank isn't about market share, but about your peace of mind," comments Ilya Radaev, Head of Customer Experience at Sovcombank.

CX Digital

The assessment covered the entire customer journey. At the acquisition stage, visibility across digital channels, ease of navigation, information completeness, and conversion of initial interest into a request were analyzed. At the purchase stage, the ease of product registration, from selecting terms to confirmation, was assessed. At the support stage, the speed and quality of service via voice channels, chats, and AI-powered assistants were assessed. At the retention stage, the level of personalization of offers, transparency of terms, ease of product management, and public feedback management were assessed. The study relied on data from more than 25 touchpoints and over 200 metrics.

erid: F7NfYUJCUneTUx3r8MD7

11:00 02/05/2026

Source: Sovcombank Press Service

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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The Bank of Russia will not support small businesses; acquiring fees will not be limited.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Image: mainfin.ru

Why won't the Central Bank of the Russian Federation limit acquiring fees?

The Bank of Russia sees no reason to limit fees for acquiring services. The regulator conducted a study and concluded that the measure does not improve the structure of the payments market or affect prices for end consumers. Therefore, even with the restrictions in place, price reductions in stores are not expected.

"The Bank of Russia will continue to develop payment services and instruments, creating conditions for fair competition and reducing the cost of banking services," the regulator noted.

Another reason for abandoning the fee cap is that such a measure would only redistribute income from banks to small businesses. As a reminder, the Central Bank of the Russian Federation has previously capped banking service fees: in 2020 amid the pandemic and in 2022 due to the onset of the economic crisis.

What is the reason for the increase in the cost of banking services in 2026?

Discussion about supporting small businesses by limiting acquiring fees began in January 2026, prompted by the implementation of tax reform, which primarily impacted small and medium-sized businesses. Thus, the authorities introduced the following measures:

The limits for the preferential tax regimes of the simplified tax system (STS) and patent tax system (PTS) have been revised; the VAT rate has been increased from 20% to 22%; the VAT exemption for banking operations has been abolished; and taxation has been introduced for banking operations and services, including account maintenance, card issuance, PIN code changes, etc.

Tighter taxation conditions have already led some entrepreneurs to abandon their operations, while others have begun raising prices. As a result, the changes could trigger a new round of inflation and prompt the Central Bank of Russia to return to its policy of raising the key interest rate.

09:00 02/03/2026

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Explanations: Changes in legislation provided for by draft federal law No. 967966-8.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Updated: January 28, 2026

In accordance with the first paragraph of clause 1.5 of Article 7 of Federal Law No. 115-FZ1, credit institutions have the right to instruct, on the basis of an agreement, including a multilateral agreement (including the rules of the payment system), a communications operator that has the right to independently provide mobile radiotelephone services and a federal postal service organization to carry out the identification of a client – an individual, a representative of the client, a beneficiary, a beneficial owner or a simplified identification of a client – an individual for the purpose of transferring funds without opening a bank account, including electronic money, and providing the said client – an individual with an electronic means of payment, as well as updating information about clients, representatives of clients, beneficiaries, beneficial owners.

The amendments to the first paragraph of clause 1.5 of Article 7 of Federal Law No. 115-FZ provided for by draft Federal Law No. 967966-8 do not affect the right of credit institutions to instruct the mobile telephone operator and the federal postal service organization to carry out identification in accordance with the specified provision of Federal Law No. 115-FZ.

At the same time, a mobile radiotelephone operator and a federal postal service organization may acquire the status of a bank payment agent in accordance with Federal Law No. 161-FZ2 and may be engaged by a money transfer operator that is a credit institution, including a non-bank credit institution that has the right to carry out money transfers without opening bank accounts and other related banking operations, to carry out the activities provided for in Part 1 of Article 14 of the said Federal Law.

1 Federal Law of 07.08.2001 No. 115-FZ "On Combating the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism."

2 Federal Law of 27.06.2011 No. 161-FZ "On the National Payment System".

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Banknotes instead of cards – the amount of cash held by Russians increased by 1 trillion rubles in 2025.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Image: mainfin.ru

Why was there an increase in cash in circulation in 2025?

The increased demand for cash comes as no surprise to the industry. Russians are showing interest in this payment method for several reasons:

Internet problems – outages and disconnections are being reported amid air raid sirens, preventing card and app payments; the introduction of additional transaction controls – amid numerous stories of card and account blocking, Russians prefer cash; a reduction in the key rate – the yield on deposits and savings accounts is declining, making bank savings products less attractive to investors.

Another factor is seasonality, as the highest demand for cash was recorded in December of last year. In the lead-up to the holidays, citizens receive bonuses and additional payments, which they plan to spend. Furthermore, Russians are reluctant to keep their money in the bank during the long New Year holidays, when most branches are closed.

How did the outflow of funds from banks into cash take place?

In the first half of 2025, Russians preferred to keep their money in bank accounts, driven by favorable terms amid a high key interest rate. This trend reversed in June, as the regulator began easing monetary policy. The largest outflow of funds (836 billion rubles) was recorded in December. This is the highest level in 11 years; a higher figure (918 billion rubles) was recorded only in 2014.

"The temporary increase in cash in circulation does not pose any negative consequences for the economy, but overall, the trend increases risks for the banking industry," the regulator noted.

By the end of 2025, the total volume of cash in circulation was estimated to exceed 19.4 trillion rubles. Meanwhile, the share of cash payments in the Russian economy remains near its historical low: around 14% of total transactions. However, this situation may change in the future, and Russians will increasingly prefer cash payments.

16:00 01/27/2026

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Microfinance organizations will not be subject to a blanket ban – the Central Bank of the Russian Federation has revealed the reasons.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Image: mainfin.ru

Why did the authorities abandon the idea of banning microfinance organizations?

The Central Bank did not support the idea of a complete ban on the activity microfinance companiesRegulatory officials cite several reasons why microfinance organizations should continue operating:

The services of such companies are in demand on the market, and the number of borrowers exceeds 15 million people;
microloans They allow for quick and easy cash withdrawals; microfinance products are also popular in the POS loan segment, which citizens can apply for directly in stores; the microfinance services market is actively developing and improving.

"We need to focus not on banning microfinance organizations, but on improving the quality of services, including combating unscrupulous market players and fraudsters," the regulator's representative noted.

By the end of 2025, the microfinance services market is expected to grow by between 5% and 16%, half the 2024 figures. However, MFI services remain in demand, and the total amount of problem debt owed by clients of such companies exceeds 1.1 trillion rubles.

How is microloan regulation being tightened in Russia?

The authorities abandoned the idea of banning microfinance organizations, but decided to focus on tightening regulation. Among the most significant changes in the microcredit sector:

In July 2025, microfinance organizations (MFOs) were prohibited from using unofficial income data; in September of last year, lenders were prohibited from making mass calls to clients; also, starting in the fall, MFOs must verify loan recipients – money can only be sent to the person specified in the loan agreement; in January 2026, it was prohibited to issue more than one loan per citizen with an interest rate exceeding 200% per annum; in the spring of 2026, MFOs will identify borrowers only by biometrics (with exemptions made only for small companies); in April 2026, the maximum cost of a microloan will be reduced from 130 to 100% of the original amount; in 2027, MFOs will be prohibited from entering into additional agreements under which lenders previously included fines and penalties in the loan principal.

As a result, experts predict a crisis in the microfinance services market due to the new laws. By the end of 2026, approximately 150 companies, or over 15% of all MFIs in Russia, could exit the industry.

10:00 01/20/2026

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Disclosure form templates 7.1 (NSO UK).

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

We inform you that technical support and further development of the XBRL Questionnaire Editor software will cease on September 30, 2026.

From the specified date:

New versions of the XBRL Questionnaire Editor software will not be published; updates, bug fixes, and support for this product will not be provided.

For compiling and verifying reports and other information in XBRL format, we recommend switching to the Converter software, which will continue to receive technical support and further development. The Converter software offers comparable functionality.

You can download the latest version of the Converter software, view the documentation and the training video atsection Software that implements the conversion of reporting data is the "Converter" software.

Questions regarding the operation of the Converter software should be sent to the address svch_sbrlnelp@kbr.ru in accordance withProcedure for applying users on issues related to the preparation and presentation of reports in XBRL format.

Any questions regarding the operation of the XBRL Questionnaire Editor software should be sent to svch_sbrlnelp@kbr.ru with the following mandatory conditions:

The subject of the email must indicate "Using the XBRL Questionnaire-Editor software" and the financial market sector to which the organization generating the request belongs. The email with the request must contain contact details indicating the organization, phone number, email address and responsible person, as well as the following information: Version of the XBRL Questionnaire-Editor software. Versions of other software samples mentioned in the error description. Description of the error. Step-by-step description of the actions to reproduce the error. Expected result. Actual result. Screenshots and graphical explanations of the described problem in the *.jpg, *.png, *.bmp formats. Materials used to reproduce the error, as attachments to the email: downloadable XBRL file; downloadable CSV file; downloadable txt file; generated XBRL file; generated reporting package in XBRL format; verification log; data download log in the appropriate format (CSV, XLSX or XBRL); reporting package with the *.ank extension; Excel templates for automatic data loading or unloading. The application.log file can be downloaded from the Help/About section. Frequency of occurrence of the problem. Problem severity. XBRL taxonomy version. XBRL taxonomy entry point. Name of the table in which the problem occurs. System configuration: operating system, including the operating system bit depth; amount of RAM; processor model with clock speed.

Responsible structural unit: Department of Data, Projects and Processes.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.