Question 1

What is UBRiR?

Accepted Answer

UBRiR (Ural Bank for Reconstruction and Development) is a major Russian universal bank headquartered in Yekaterinburg, Sverdlovsk Oblast. The bank ranks among the top 25 largest financial institutions in Russia by assets and is the largest bank in the Ural region by total assets and equity capital.

As of January 2024, UBRiR reported approximately 360 billion rubles in assets, 24.9 billion rubles in equity capital, and operates over 100 offices across Russia. The bank serves both retail and corporate clients, offering a comprehensive range of banking services including deposits, lending, payment systems, wealth management, and investment services.

Question 2

When was UBRiR founded?

Accepted Answer

UBRiR was founded in September 1990 as the Cooperative Bank for Cooperative Development (Кооперативный Банк Развития Кооперации) by founding shareholders during the early post-Soviet economic reforms. The bank was later renamed to the Ural Bank for Reconstruction and Development.

The bank has undergone several organizational transformations throughout its history. In 2002, it was restructured as an open joint-stock company. In 2004, UBRiR merged with ZAO Sverdlsocbank, expanding its regional presence. On September 26, 2014, following a shareholders' decision, the bank was reorganized as a public joint-stock company under its current legal structure.

Question 3

Where is UBRiR headquartered?

Accepted Answer

UBRiR's headquarters is located in Yekaterinburg, Sverdlovsk Oblast, at 51 8 Marta Street, 11th Floor, 620063. The bank's primary operations remain concentrated in the Ural Federal District, where it maintains its strongest market presence.

The bank also maintains a subsidiary in Ireland (UBRD Finance Designated Activity Company) focused on issuing debt securities, as well as several Russian subsidiaries including UBRiR-Finance (securities management), UBRiR-Leasing (leasing services), and Fininvest K (asset management).

Question 4

Where does UBRiR operate?

Accepted Answer

UBRiR operates across 41-46 regions throughout the Russian Federation, with its strongest presence in the Ural Federal District. As of 2024, the bank maintains a network of approximately 104-106 additional offices, branch locations, and credit-cash offices across Russia, ranking 22nd among Russian banks by branch network size.

The bank provides access to approximately 20,000 ATMs nationwide and has developed an extensive digital infrastructure to serve customers across all regions where it operates. UBRiR's office network covers major Russian cities and regional centers, enabling both urban and regional access to banking services.

Question 5

What services does UBRiR offer?

Accepted Answer

UBRiR provides a comprehensive range of universal banking services for retail and corporate clients. For individuals, the bank offers deposit accounts, consumer loans (50,000 to 1.5 million rubles), credit cards (30,000 to 300,000 rubles), loan refinancing, mortgage lending, and payment services.

For businesses, UBRiR provides current account management, commercial lending, cash management services, payroll services, acquiring solutions, and treasury services. The bank also offers investment services including brokerage, dealer operations, depository services, and securities portfolio management through its licensed investment division.

Digital services include a comprehensive mobile banking application ranked in the top five Android mobile banking apps in Russia by user experience (Markswebb rating), internet banking platforms (including UBRiR Internet Bank and UBRiR Internet Bank Lite), paperless office solutions, and integration with Russia's Fast Payment System (Sistema Bystykh Platezhey). The bank actively develops cashback programs, digital wallet services, and remote customer service through video banking and contact centers.

Question 6

What makes UBRiR unique?

Accepted Answer

UBRiR distinguishes itself as the leading financial institution in the Ural region and ranks among the top five Russian banks by level of digitalization. Since 2015, the Central Bank of Russia has recognized UBRiR as a systemically important credit organization in the payment services market.

The bank was included in Forbes magazine's list of 100 most reliable Russian credit institutions in 2020 and 2021. UBRiR has been particularly innovative in digital transformation, implementing paperless office technology, developing award-winning mobile banking solutions, and participating as one of the first banks in testing Russia's digital ruble platform in 2022.

UBRiR is actively involved in financial rehabilitation initiatives. In October 2015, the Deposit Insurance Agency (DIA) selected UBRiR as the investor for the financial recovery of VUZ-Bank, and by November 2015, UBRiR acquired 99.99% of its shares. The bank maintains active participation in charitable programs, notably the long-running "Children Believe in Miracles" initiative supporting 49 institutions across 28 Russian cities since 2008.

Question 7

What type of financial institution is UBRiR?

Accepted Answer

UBRiR is classified as a universal bank (банк с универсальной лицензией) holding a General Banking License (No. 429) issued by the Bank of Russia on February 6, 2015. As a universal bank, UBRiR is authorized to conduct the full spectrum of banking operations for both retail and corporate clients.

The bank's universal license permits operations including accepting deposits, providing loans, conducting foreign exchange operations, issuing payment cards, offering cash management services, and executing money transfers. UBRiR also holds specialized licenses for precious metals operations (attracting deposits and placing precious metals), as well as securities market licenses for brokerage, dealer, depository, and portfolio management activities issued in 2000.

Question 8

What is UBRiR's ownership structure?

Accepted Answer

UBRiR is a publicly traded joint-stock company with concentrated ownership among several major shareholders. The primary shareholders include Ural billionaire Igor Altushkin, chairman of the board of directors and principal owner of Russian Copper Company (30.00%), Alexander Semkin, head of Novgorod Metallurgical Plant within RMK (20.00%), Vladimir Pechonenko (20.00%), Sergey Skubakov (15.86%), and Irina Gaivoronskaya (13.28%), with minority shareholders holding 0.86%.

Since September 15, 2023, Alexey Dolgov has served as president of the bank, approved by the board of directors. The bank participates in Russia's deposit insurance system and is accredited by the Deposit Insurance Agency to act as a paying agent for depositors of banks with revoked licenses.

Question 9

What are UBRiR's credit ratings?

Accepted Answer

ACRA (Analytical Credit Rating Agency) assigned UBRiR a rating of B(RU) with a stable outlook in 2022, which has been annually reaffirmed through 2025. In January 2022, Standard & Poor's confirmed UBRiR's long-term and short-term credit ratings at B/B with a stable outlook, though S&P withdrew ratings for 11 Russian banks, including UBRiR, in April 2022 in connection with its departure from the Russian market.

In April 2025, the Bank of Russia published its first ranking of banks by the number of substantiated borrower complaints. Among non-systemically important banks, UBRiR ranked third with approximately 5 substantiated complaints per 100,000 loan agreements during the first half of 2025.

Question 10

What sanctions apply to UBRiR?

Accepted Answer

On February 24, 2023, following Russia's invasion of Ukraine, the U.S. Office of Foreign Assets Control (OFAC) added UBRiR to the Specially Designated Nationals (SDN) sanctions list. The bank was subsequently sanctioned by the United Kingdom, Ukraine, Australia, and Canada under their respective Russia sanctions programs.

These are targeted sanctions, and UBRiR's SWIFT code has not been revoked, allowing the bank to continue certain international operations. The sanctions primarily restrict correspondent banking relationships and trust services in sanctioning jurisdictions, while the bank continues to operate domestically within Russia under its universal banking license.

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