Sovcombank

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Sovcombank (Public Joint-Stock Company "Sovcombank", Russian: Совкомбанк) is a Russian privately owned universal bank included in the list of 13 systemically important Russian banks. In terms of assets, it ranks 9th among Russian banks (1,483 billion rubles). From 1990 its initial name was Buycombank (after former headquarters town Buy in Kostroma region) before been bought and rebranded into Sovcombank and his partners in February 2003. The main owner of Sovcombank (86.5%) is the Russia-based company JSC Sovco Capital Partners, owned by private Russian shareholders, notably (as of August 2020) brothers Dmitry and Sergey Khotimsky who own together 37% of Sovco Capital Partners. Minority shareholders of Sovcombank include Public Investment Fund of Saudi Arabia (3.3%), Russia-China Investment Fund (2.0%) and Russia-Japan Investment Fund (1.3%) After operating within Netherlands and Luxembourg jurisdiction, from September 2021 the holding company of Russian shareholders of Sovcombank was reregistered in special administrative region of Oktyabrsky island of Kaliningrad oblast in Russia. The bank is subject to international sanctions since February 24, 2022 in response to Russia's invasion of Ukraine.