Question 1

What is Cifra Bank?

Accepted Answer

Cifra Bank is a Moscow-based commercial bank specializing in investment banking and brokerage services for both retail and corporate clients. Operating under universal license number 1143 from the Bank of Russia, the bank positions itself as one of Russia's leading banks for private investments. Cifra Bank is unique in forming an integrated ecosystem with Cifra Broker, allowing seamless integration between traditional banking and investment services. The bank is a member of the Moscow Interbank Currency Exchange (MICEX) and Moscow Exchange.

Question 2

When was Cifra Bank founded?

Accepted Answer

Cifra Bank was originally founded on October 23, 1990, as KB "Okhabank" based on a division of Promstroybank USSR. The bank was initially established as a limited partnership and later reorganized as a limited liability company (LLC) in October 1998. In 2001, it came under the control of the All-Russian Bank for Regional Development (VBRR) and served Rosneft's financial operations. In September 2015, the bank was renamed "Freedom Finance Bank" and moved to Moscow. In October 2022, the bank rebranded to its current name, Cifra Bank, and began operating independently from Freedom Holding Corp.

Question 3

Where is Cifra Bank headquartered?

Accepted Answer

Cifra Bank is headquartered in Moscow, Russia, at 15 1st Krasnoguardeysky Proezd, Building 1/17, 123112. The bank relocated to Moscow from Sakhalin in 2015 and has since expanded its presence across Russia with over 40 offices serving clients nationwide.

Question 4

Where does Cifra Bank operate?

Accepted Answer

Cifra Bank operates throughout Russia with more than 40 offices in various regions. The bank's head office is in Moscow, and it maintains a significant network of additional offices and remote service points across the country, including locations in major cities and airports such as Mineralnyye Vody. The bank serves clients nationwide through its physical offices and digital channels.

Question 5

What services does Cifra Bank offer?

Accepted Answer

Cifra Bank offers a comprehensive range of banking and investment services. For retail clients, the bank provides debit and investor cards with unlimited cashback in stocks, deposits with rates up to 15% in rubles and accounts in multiple currencies including yuan, savings accounts with rates up to 18%, consumer loans, and money transfer services through the Fast Payment System. The bank's unique investor cards provide 24/7 access to brokerage accounts. Corporate clients benefit from settlement and cash management services, salary projects, acquiring services, and business lending. The bank also offers professional securities market services including brokerage, depositary, dealer, and asset management activities under separate licenses.

Question 6

What makes Cifra Bank unique?

Accepted Answer

Cifra Bank distinguishes itself through its innovative integration of traditional banking with investment services. The bank's flagship product is the investor card with unlimited cashback paid in stocks from 15 different companies, allowing cardholders to build investment portfolios through everyday spending. This card provides direct access to brokerage accounts, enabling instant conversion between cash and securities. The bank's ecosystem approach, combining banking services with Cifra Broker's investment platform, offers clients seamless transitions between saving, spending, and investing. Additionally, the bank has expanded international banking services, including accounts in UAE dirhams and transfers to Azerbaijan.

Question 7

What type of financial institution is Cifra Bank?

Accepted Answer

Cifra Bank is a limited liability company (ООО) operating as a universal commercial bank with a universal license from the Bank of Russia. The bank holds multiple licenses enabling comprehensive financial services: universal banking license number 1143 (effective January 31, 2024), broker license number 045-14030-100000, dealer license number 045-14031-010000, depositary license number 045-14033-000100, and asset management license number 045-14032-001000. The bank is a participant in the Russian deposit insurance system, having joined on February 10, 2005, under registration number 641. As a universal bank, Cifra Bank can conduct the full range of banking operations without restrictions.

Cifra Bank

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About Cifra Bank in Russia