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History of Sotsinvestbank
Sotsinvestbank was formed almost eighty years ago as the Bashkir Branch of the State Bank of the USSR, which subsequently became Agrobank and then Zhilsotsbank.
In 1990 by resolution of the Bashkortostan Banking authorities it became a limited liability company and assumed its present form under the name of Sotsinvestbank. It was re-registered as an open joint-stock company in 1998.
The main aim of the Bank has always been to provide a full range of banking services for small and medium sized businesses, sole traders and investors. It is proud of its reputation as a trustworthy and reliable partner and the Sotsinvestbank team of highly trained professionals is constantly exploring and developing new ideas with the use of modern technology to better serve the needs of its clients.
During the severe economic and financial crisis in Russia in 1998 which adversely affected many financial institutions Sotsinvestbank coped well and traded profitably largely due to the dedication of its staff and management. As a consequence the Bank has always been placed in the top 200 largest Russian banks.
It has seen annual increases in its capital base and the scale of its activities continues to steadily grow. Significantly it has expanded its branch network from 9 local offices to more than 40 in Bashkortostan, a branch in Moscow and a Representative Office in London, UK. The staff of the Bank has increased three fold from 350 to more than 1,000. Correspondent banking relations connect Sotsinvestbank with 20 foreign banks located in 12 countries and in the local Russian market it actively conducts business with more than 50 banks.
The client base of Sotsinvestbank now exceeds 170,000 comprised of 23,000 corporate clients and more than 154,000 private account holders. The activities of its clients vary widely from the social services sector to oil and gas extraction and refining, agriculture, food and trade.
The Bank holds all the required licences from the Russian Federation Central Bank appropriate to delivering a full range of banking products and the trust of its shareholders is regularly rewarded with annual dividend payments.
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