In the current economic realities in Russia, those financial institutions in which the state is the majority shareholder have a dominant position compared to other similar institutions. A bank with state participation is an organization where decisions are made mainly based on the interests of the state.

Financial analysts believe that thanks to government participation in the banking system, it remains reliable and stable. In addition, there are sectors in the economy where the injection of funds may be either unprofitable or have great risks for private lending institutions. For example, such an important sector for the life of the country as agriculture.

The influence of the state on the activities of credit institutions can be different. It can be divided into certain types, depending on the degree of government participation in these institutions.

A bank in which the state is the sole shareholder. We have only one such bank - .

There are banks with state participation, in which the state share is more than 50 percent of the shares. A certain percentage of shares in such credit institutions belongs to private shareholders, and these may be people who have citizenship of another country. The most famous of these financial institutions are "" and "".

There are joint stock companies in which a package of shares purchased by the state gives it the opportunity to block any decisions made in this company.

There are financial institutions in which government management is carried out through other state-owned companies that are the owners of these institutions. For example, in OAO Tatneft the main shareholder is the state, and this company owns a blocking stake in the financial institution Zenit. Thus, the state, through Tatneft, can influence this bank.

There are credit organizations whose financial activities have led to the fact that the state is forced to carry out certain procedures in them to improve the health of these organizations. As a result, they are managed by representatives of government agencies. For example, if a financial institution is undergoing reorganization, or if the Bank of Russia takes over its management, sending its representative to this institution.

If the Central Bank carries out large loans to any commercial bank, it also necessarily sends its authorized representative to this credit institution.

Since the participation of government agencies in the country's banking system can be different, its accounting is often difficult. For this reason, no one regularly keeps statistics. But according to general statistics, there are more than fifty banks with state participation in the Russian Federation.

In Russia, many credit institutions carry out their financial activities. According to available information, these are more than 900 banks. But almost 40 percent of the total number of own assets of the banking system of the Russian Federation is accounted for by banks with state participation. These financial institutions issued more than 45 percent of the total number of loans issued to legal entities and individuals. More than half of all deposits placed in the banking system of our country were attracted by these credit institutions.

Analysts have mixed assessments of the impact of such financial institutions on the Russian banking sector. When the country's economy is experiencing a crisis, these structures are the first to receive financial support from the state, expressed in their lending at a low interest rate. Thus, these credit institutions are a reliable stronghold for enterprises with private capital, as well as for ordinary investors. Thanks to these banks, the state can pursue its policy aimed at reducing the level of interest rates on loans issued to the real sector of the economy. They also help regulate mortgage prices. For residents of our country, such activities of these banks provide assistance in purchasing housing.

But the ability of these banks to easily obtain cheap loans leads to the fact that there is competition between financial institutions, which can only be called fair with a big stretch.

In the leading countries of the world, the influence of the state on the banking sector is insignificant. Most often, this influence is limited to the fact that it regulates the overall financial system of the country. The state also provides financial support to banks in times of economic crisis. The state participates as a shareholder in banking structures mainly in the economies of developing countries. Along with the economic growth of the country, the state's share in the authorized capital of credit institutions is gradually decreasing.
1. Sberbank
2. VTB
3. Gazprombank
4. VTB 24
5. Rosselkhozbank
6. Bank of Moscow
7. National Clearing Center
8. Khanty-Mansiysk Bank
9. AK BARS
10. Svyaz-Bank
11. Globex
12. SME Bank
13. Tatfondbank
14. Russian Capital
15. All-Russian Regional Development Bank
16. Eurofinance Mosnarbank
17. Krayinvestbank
18. Far Eastern Bank
19. Akibank
20. Almazergienbank
21. GPB-Mortgage Does not work with individuals
22. Moscow Mortgage Agency
23. Roseximbank
24. Ruskobank
25. MAK-Bank
26. Rus'
27. Bank of Kazan
28. Khakass Municipal Bank
29. Kuban Universal Bank
30. Naratbank
31. Russian National Commercial Bank
32. Gelendzhik-Bank
33. Postbank
34. Bashprombank
35. Vnesheconombank

When choosing a bank for a deposit or loan, clients look not only at interest rates: the most important indicator is currently considered. No one wants to lose funds as part of a cleanup of the banking sector or have their credit history damaged when an unreliable lender is liquidated.

It is believed that the most reliable are the state ones. Russian banks. And there is the lion’s share of truth in this statement: the state will not invest in assets and store the capital of its chambers and foundations in low-quality organizations. In practice, non-commercial banks in which the state has a stake are extremely rarely deprived of their license, which means they are as safe as possible for depositors.

Which banks are state-owned?

In Russia, the list of tanks with state participation is quite large. It includes both organizations with a 100% stake or 50% + 1 voting share, as well as banks with government support. The 2017 list increased due to the reorganizations carried out during the year (in the event of a bank’s financial recovery, 51% of the shares go to the DIA).

Is Sberbank a private or state bank?

Many people are interested in whether Sberbank is a state bank or a commercial one? It is impossible to answer yes or no here: because the state (through the Central Bank of the Russian Federation) owns only 52.32% of the shares, and the remaining 47.68% are Bank Shares that are in public circulation, their owners (including minority shareholders ) are not installed.

VTB state bank or not?

The VTB Group owns the banks VTB Bank of Moscow, VTB24 PJSC and OJSC VTB Bank North-West. The main one in the group is PJSC VTB.

• 60.93% owned by the Russian Federation represented by the Federal Property Management Agency,
• 29.77% belongs to minority shareholders,
• 2.95% is owned by the State Oil Fund of Azerbaijan,
• 2.36% - from the Swiss company Credit Suisse AG,
• 2.73% - owned by JSC Rosselkhozbank,
• 1.26% - from JSC AB RUSSIA

PJSC VTB24, in turn, is almost 100% (99.9269%) owned by PJSC VTB. It turns out that VTB24 is also practically state-owned.

There are many such ownership schemes (through another bank). Many non-state banks in Russia are controlled by the authorities through another organization (Chamber of Commerce, Rosimushchestvo, etc.)

List of state banks in Russia 2017:

(based on partial share ownership)

It would be logical to assume that state banks are banks that are completely owned by the state through its various corporations and government bodies. However, upon closer examination it turned out that in most of these credit institutions the share of shares in the hands of the state is limited. That is, part of the shares still belongs to non-state (private) legal entities and individuals. The extent to which the bank can be called state-owned depends on the size of these shares and their ratio. And if we take into account that, according to the law, the owner may not participate in the operational management of his company, then, according to experts, it is not always possible to identify a state bank with one hundred percent sustainability of its business.

And the legislation treats the rights of depositors of any Russian bank equally. The reliability of a bank is most influenced by hired top managers and the business policies they build. However, there are other more complex risks, in the event of which the state will primarily save state-owned banks from collapse. But whether the situation that had developed by that time will contribute to this is a question with many unknowns.

In Russia, according to some estimates, there are more than fifty banks in the capital of which the state has a share of one size or another. For example, did you know that almost 42% of Sberbank shares are owned by foreign individuals and companies? Or that in the National Reserve Bank the share of Rosimushchestvo (Federal Agency for State Property Management) is now 2.99%. And Russian Capital Bank came under full ownership of the state corporation DIA as a result of its reorganization in 2008, which did not allow the large private bank to go bankrupt. The situation is approximately the same with the Bank of Moscow (formerly private), which its new owner, VTB Bank, considered state-owned, has been saving from the crisis for several years now.

When assessing any bank for belonging to the state, one must keep in mind the plans of the state itself to slowly sell off its shares of property ownership into private hands. For example, as part of the equation of the competitive environment within the banking system of the Russian Federation, plans were once voiced to gradually reduce the Central Bank’s share in Sberbank to a quarter. And the current recapitalization of banks through OFZs as part of anti-crisis measures, on the contrary, will increase the presence of the state (represented by the DIA) in the capital of several private banks.

In the following review of the most profitable deposits in state-owned banks, keep in mind that, as a rule, these banks only offer the highest rates for multi-million dollar savings of VIP depositors. For more modest investments, the interest here will be lower, sometimes even one and a half to two times. And if you definitely want to find the highest rates of 15-16.9% for moderate amounts, then it is better to contact small banks, prudently limiting the volume of your deposits there to the framework of the DIA insurance liability (currently 1,400,000 rubles).

Globex Bank

Today, of all four possible deposit offers of the bank, the most expensive is “Exact calculation”. Its rate range is 11-15% per annum. The profitability here depends on the chosen period and the invested amount. The lowest percentage is valid for a period of 2-3 years, and the highest for a period of 6-12 months for ruble savings. Minimum amounts: 100,000 rubles or 2,000 USD / EURO.

The agreement does not provide for replenishment, partial expenditure, or capitalization. Interest is paid at the end. Early termination occurs at the “on demand” rate. The agreement can be concluded in favor of a third party, which is not found in every bank.

Absolut Bank

The “Absolute Maximum +” deposit is one of the bank’s five offers. The best rates in rubles here apply to contracts with a term of up to a year, in foreign currency, on the contrary, for more than a year. You can choose a convenient period for yourself in the range of 91-1080 days. The most favorable ruble yield under the following conditions: 367 days, deposit from RUB 1,400,000. Smaller savings (from RUB 30,000) are cheaper.

There are no additional income and expense transactions in the deposit. Interest is paid to the investor at the end of the term. The preferential early termination rate begins to apply after six months.

Russian Capital

In total, the bank has four types of deposits with different conditions. The highest ruble rate of 14.5% is valid in three of them, incl. in the “Russian Capital Plus” agreement, in which the best profitability is valid for a period of 395 days, for amounts from 1,500,000 rubles. or from 50,000 euros/dollars. The minimum possible investment amount is RUB 10,000. or 300 euros or US dollars. The maximum period is 3 years.

Interest is calculated monthly: optionally capitalized or issued in the form of annuity. It is possible to replenish and early withdrawal while retaining part of the bet under certain conditions.

Svyaz-Bank

Of the bank’s ten deposits, the best in terms of profitability is the “Collection Classic” agreement. True, the minimum starting amount is 3,000,000 rubles. or 100,000 euros/dollars. The highest percentage is valid on placement terms: from RUB 300,000,000. for 6 months or from 10,000,000 dollars/euro for 1 year. Below rates apply to other contracts, for other amounts and terms (from 1 month to 5 years).

Interest is paid at the end of the term or once a year. Partial withdrawals, replenishments and early benefits are not provided. But it is possible to open a deposit online through Internet banking.

Rosselkhozbank

The bank just lowered its deposit rates. There are a total of 14 types of deposits with different savings conditions. Now the best rate is valid in the “Golden” deposit, which opens incl. via ATM or Internet. Profitability is tied to the amount (from RUB 1,500,000) and term (from 1 month to 4 years). The highest rate is offered for savings: from 30,000,000 rubles, placed for 6 months and from 50,000 dollars/euro, with a period of 2.5 years.

Interest on this deposit is paid at the end of the term. Additional contributions are not accepted. Expense transactions are not allowed. There are no benefits for early delivery.

RRDB

The bank offers its depositors a choice of 12 types of deposits with different conditions. The best yielding ruble deposit is “Prime-M”, in which the highest rate works: for a period of 3 months for investments from 100,000,000 rubles. The “Special Status” deposit is the most profitable for investments in dollars: term 1 year, from $5,000,000.

Of these two proposals: a ruble deposit fixes the monthly interest payment without replenishment options, a foreign currency deposit can be capitalized with interest, replenishment and partial withdrawal. The preferential rate for early payment is valid in limited cases.

VTB 24

Of the thirteen deposits, the best are: for currency - “Profitable Online”, for rubles - “Double”. Conditions for the highest rate in rubles: investments from 3,500,000 rubles, 6 months, interest payment at the end of the term without capitalization, no replenishment options and early termination benefits, issued in a package with an investment life insurance agreement.

Conditions for the highest rate in dollars: savings from $50,000, the term can be chosen in the range of 12-18 months, capitalization or annuity when paying interest, only remote opening through the Telebank system, preferential rate for early payment.

Bank of Moscow

The bank's deposit portfolio consists of eleven offers. Today, the best in terms of ruble profitability is the “Correct Answer” deposit with laddered interest accrual and quarterly capitalization. There is one rate for any amount (minimum RUB 100,000). The deadline for everyone is also the same - 380 days.

The “Maximum Income (Pension)” deposit is the most expensive for currency. The best rate is valid for savings from 100 dollars/euro for a period of 366-547 days (accurate to the day of the client’s choice). Monthly interest is either capitalized or paid at the discretion of the depositor.

Gazprombank

The Gazprombank - Perspective deposit is the best today in terms of interest rates. The most profitable ruble deposits are opened for a period of 6 or 12 months with a minimum amount of 1,000,000 rubles. The term for the best foreign currency savings is 12 months with investments from 10,000 dollars/euro. The minimum deposit amount is 15,000 rubles, 500 dollars/euro. There are five terms to choose from - from 3 months to 3 years.

Interest is calculated once a year and paid (at the client's choice) in the form of annuity or capitalized. There are no additional options in the form of income and expense transactions. Early termination almost always changes the rate to the “on demand” level.

Sberbank of Russia

The “Save Online” deposit has been the most profitable in the bank for several years. The account is opened remotely via the Internet, ATM or mobile phone. This adds 0.3-0.95 percentage points to the deposit compared to the regular office option without the “Online” prefix. Today the best conditions for savings are from RUB 2,000,000. (or from 20,000 dollars/euro) for a period of 6 months to 1 year (the accuracy to the day is chosen by the investor independently).

Income is accrued once a month, the client chooses annuity or capitalization in advance. There are no refills or partial expenses. But after six months, preferential interest rates begin to apply under conditions of early termination of the contract.

Oksana Lukyanets, expert of the Vkladvbanke.ru project

The basis of the Russian banking system is the Central Bank. Its main functions are issuing national currency, issuing licenses to commercial organizations, regulating the activities of the entire banking system of the country, which includes commercial, state banks, and non-banking financial institutions. The bank becomes state-owned by decision of the government or upon its establishment, by purchasing shares of capital, or by appointing a temporary manager during bankruptcy reorganization.

What is a state bank

A state-owned bank is one in which more than half of the capital belongs to the state or government agencies. Such government agencies include the Central Bank of Russia, the Federal Property Management Agency or others. Their share in the share capital shows the degree of influence of the state directly on the terms of the offered loans and deposits, the level of commissions for transactions, and the list of government social programs. State banks may become non-state banks by government decision on privatization.

The Government of the Russian Federation finances large and important projects through state banks. Lending to commercial structures is carried out through state banking structures. Individuals, entrepreneurs, and large businesses, when choosing a settlement and credit institution, give preference to state-owned banks because they understand the high security of their deposits and funds in current accounts. Their shares are more in demand on the stock market, since the state is interested in maintaining their value to confirm its effectiveness.

Banks with state participation

There are more than 50 banks with state participation in Russia. Banking structures with a state share of more than 50% include:

• Sberbank of Russia - 52.32% belongs to the Central Bank, this is the answer to the question of most citizens whether Sberbank is a state bank;
• VTB – 60.93% belongs to the Russian Government represented by the Federal Agency for State Property Management (Rosimushchestvo);
• Rosselkhozbank - 100% from the Federal Property Management Agency;
• MSPbank – 100% under the control of the Russian Federation (Rosimushchestvo);
• Post Bank – 50.00002% owned by VTB24.

State share

A banking structure in which the state owns 100% of the capital is a wholly state-owned or state-owned bank. All other banks are commercial with varying degrees of government participation. If this share of the share capital begins to exceed the controlling interest of 50% + 1 share, it falls under the full control of the state, which has the right to fully manage the financial activities of the bank. If 25% + 1 share belongs to the state, it receives a blocking right - the ability to veto any decision of the bank’s board of shareholders.

Method of state participation in bank capital

All banking structures in Russia, according to the degree of state participation in their capital and the influence of the government on their activities, are divided into the following types:

1. Full influence. The Central Bank of Russia is completely state-owned, non-profit, operating on the basis of the Law of Russia. This type of influence includes banking structures with 100% state shares - Rosselkhozbank, Roseximbank. Vnesheconombank is wholly owned by the state. It grew out of a state corporation, the original function of which was to return property to Russia. Then it began to buy out stakes in commercial structures facing difficult financial conditions and became one of the largest state-owned banks in the country.
2. Partial influence. Banking organizations in which controlling or blocking stakes belong to the state - Sberbank, VTB, Vnesheconombank (VEB), Gazprombank and others.
3. Indirect influence. The government has the ability to influence banks indirectly through other structures. Such banking structures may include commercial ones, significant stakes in which are owned by foreign states and private foreign companies, but Russian state banks or state-owned companies have blocking or controlling stakes. The state indirectly owns VTB24 Bank, since an impressive 99% of the authorized capital belongs to VTB Bank, the controlling stake of which is owned by the state.
4. In the form of control. The government has the opportunity to influence the activities of commercial organizations undergoing financial recovery options by appointing temporary managers.

Types of State Banks

State-owned banks, according to the degree of participation and level of control over their activities by the Russian government, are divided into:

• Entirely state-owned banks in which a controlling stake belongs to government bodies, including various state entities, or municipal administrations. The state's share in them always exceeds 50% of the shares.
• Banks with state participation, in which a controlling stake in the bank does not belong to the state, but at the same time the government, through various government agencies, has a share of 15% to 50% in the commercial capital.

Functions of state banking institutions

Banking organizations with state participation, in addition to implementing standard cash settlement, credit and deposit programs, pursue the policy of the Central Bank to provide banking services in Russia. Their functions are:

• carrying out the social and demographic policy of the state in relation to different segments of the population;
• formation of a positive attitude of the population towards the banking system;
• financial recovery of the economy, optimal distribution of capital across industries;
• activation and capitalization of monetary resources of individuals and legal entities;
• protection of household deposits through insurance (special programs);
• formation of the securities market, stock market.

Impact on the banking services market

State banks of Russia form the image of the country's banking system. This is especially evident during periods of crisis. Commercial structures in a state of crisis are curtailing social programs, increasing requirements for borrowers, revising loan and deposit conditions, and introducing additional fees and commissions. In some cases, large private banks fall into insolvency situations. To save the entire banking system of the country and protect depositors, nationalization is forced.

During the crisis, Russian state banks receive additional support from the state to continue social programs and stabilize loan and mortgage rates. The government is conducting additional capital injections into controlled banks and is taking measures to maintain the activity of the entire banking system. If the state has a 100% stake in the bank, it appoints the highest authority to manage the financial and administrative work of the entire banking structure.

Features of preferential programs with state support

For socially vulnerable segments of the population, the state, through state banks, pursues its policy. They create loan programs with moderate requirements for borrowers, reductions in down payments and mortgage interest rates. As an example:

• Schemes for preliminary accumulation of funds for a mortgage at the expense of state funds are proposed for the military.
• Pensioners receive support in the form of subsidies or partial payment of interest on consumer loans from federal or municipal budgets.

Which banks in Russia are state-owned

State banks with varying degrees of influence on their activities by the Russian government are:

Efficiency of Russian state banks

Crisis phenomena in the country's economy and growing public confidence have led to the fact that the share of state-owned banks in terms of coverage of the country's population is approaching 80%. The prospects for banks with state participation are more predictable in the event of a crisis. Banks with state support have a large number of representative offices and branches in all regions of the country. They adhere to a corporate style in the external design of offices, rules for staff training, customer service methodology, and can provide higher quality services.

The state, unlike the owners of commercial organizations, has access to the issue of banknotes, the issuance of financial debt obligations, and bonds. Through controlled banking structures, the government makes financial borrowings on international financial markets. By offering debt obligations secured by guarantees of the Russian Federation, significant funds are raised to solve many socio-political problems.

The state redistributes money between different banks to find and finance state-owned companies, promising projects, innovative inventive work, startups in promising areas of the Russian economy, agriculture, and construction. Official authorities in different regions of the federation select promising projects that are beneficial for individual regions, and their financing is provided by state banks.

Pros and cons of commercial banks with government support

The influence of state banks on the functioning of the country's economy is very significant. There are positive and negative aspects to this. The advantages include:

• greater public confidence in the reliability of deposits;
• receive support from the state in times of crisis;
• stability of terms of credit and mortgage programs;

The disadvantages include:

• while ensuring higher reliability, state banks offer reduced rates on deposits;
• higher interest rates on loans and mortgages;
• less flexibility when making small business lending decisions;
• high requirements for the provided certificates and documents.

Non-profit banks

Financial and credit institutions that provide services for placing deposits and issuing loans to the population, but are not banks, are called savings banks. These include savings banks, savings and loan associations, and cooperative societies. Housing construction is carried out using equity participation in Russia. A large volume of lending is offered by microfinance lending organizations. The requirements for borrowers in terms of having a regular income and personal documents are less stringent, and interest rates are higher.

Video

The economic stability of the country is determined by the financial policy implemented by state banks and the targeted mechanisms for the development of the national economy implemented by institutions.

State banks are guarantors of economic stability

State banks are financial institutions owned by the government. Control over the management of the activities of such organizations is carried out by government agencies.

Main types of state banks:

• central - a national banking institution that carries out regulatory, control, management, and refinancing functions;
• commercial, the controlling part of the assets of which belongs to the state.

The interaction of the National Bank and commercial state banks ensures the effective economic and financial development of the country through the use of credit and investment mechanisms.

Activities of state banks: tasks

The purpose of the functioning of state financial institutions is to stabilize the economic situation and develop the economy in accordance with national interests.

The activities of state banks are aimed at achieving the following goals:

• protection of national monetary measures, ensuring their stability;
• carrying out an effective credit and financial policy;
• development of the banking system;
• reduction of the budget deficit.

The instruments used by the National Bank are aimed at stabilizing the pace of development of economic indicators, curbing inflation, and maintaining the liquidity of state assets.

List of state banks

The banking system includes financial institutions with state participation. At the same time, the state owns only part of the stake.

The list of state-owned banks also contains credit and financial organizations, the influence on whose policies the state exerts indirectly through its own enterprises and holdings that own institutions.

State banks of the Russian Federation:

• National Bank;
• Sberbank;
• Rosselkhozbank;
• Gazprombank;
• Russian National Commercial Bank;
• Svyaz-Bank;
• Eurofinance Mosnarbank.

In an effort to reduce financial risks and increase assets, open deposits in state banking organizations.

State banks of Russia

The category of state banks in the Russian Federation necessarily includes banks founded by the state. A state bank can also be considered a commercial bank that was founded by private individuals and then purchased by the government. In such banks, the share of the state controlling stake is, as a rule, 50% of all shares + 1 share. Often the state buys commercial banks with a difficult situation, saving them in this way from complete ruin and revocation of their license. The government's purchase of a bank allows it to pay off its debts with an infusion of government cash and continue to conduct banking activities. The main state bank of the Russian Federation is Sberbank, founded in 1841 and for a long time existing as a system of savings banks.

Bank with state participation

A bank with state participation is a credit institution in the management of which the state takes part. In banks with state participation, the state plays a leading role in making significant economic decisions, ensuring compliance with state interests. In this way, the stability of the entire banking and economic system is guaranteed. The influence of the state on the activities of a credit institution may vary depending on the method of state participation. There are the following types of banks with state participation:

• banks with a blocking state stake;
• banks with a controlling state stake;
• fully state-owned banks (100% shares);
• banks indirectly controlled by the state;
• banks in which an authorized representative of the Central Bank of the Russian Federation is present.

Often banks with state participation are created in those sectors of the economy that are unprofitable or risky for private banking investments. Such industries include agriculture, the leading bank in which is a bank with state participation - Rosselkhozbank.

Rating of deposits in banks with state participation

Banks with state participation are considered the most reliable banks in the country. Therefore, many individuals prefer to keep their savings in this category of credit institutions. Interest rates, conditions for the duration of deposits and other parameters may vary, depending on the specific bank with state participation. In order to make the right choice, citizens often turn to deposit ratings, as well as to the ratings of the banks themselves. It should be noted that in many cases, favorable interest rates in state banks are provided only for multimillion-dollar investors. For more modest deposits, the interest will be practically no different from the interest offered in regular commercial banks.

State banks of Russia: list 2016

The largest and most stable state-owned banks in 2016 include banks with large financial assets. These banks occupy leading positions in the ratings of Russian banks and have high reliability. In 2016, banks with a similar reputation include the following largest banks:

• Sberbank of Russia;
• VTB Bank (for legal entities only);
• Gazprombank;
• VTB24 Bank (large banking network);
• Khanty-Mansiysk Bank;
• Bank of Moscow;
• All-Russian Regional Development Bank;
• Rosselkhozbank;
• National Clearing Center;
• AK BARS;
• Svyaz-Bank;
• Postbank.

The Central Bank and the State Bank: the relationship between concepts

The terms “central bank” and “state bank” should be distinguished from each other and not confuse these fundamentally different concepts, as often happens in the layman’s understanding. The Central Bank is a state bank that is completely (100%) owned by the state. Thus, the central bank can be called a state bank. But the reverse conclusion is not possible - not every bank that is a state bank has the functions of a central bank. The concept of “state bank” is interpreted as a bank in which a controlling stake belongs to the state. Based on this, a commercial bank is a bank whose controlling stake belongs to private investors.

State and non-state bank: main differences

Formally, a state credit institution can be distinguished from a non-state credit institution by the share of state participation, which is expressed as a percentage of shares. For clients, the difference between a state bank and a commercial bank will be expressed mainly in different interest rates. As a rule, interest rates on loans are lower from state-owned banks, as they have preferential working conditions and reliable support in the form of government assistance. Private commercial banks offer loans to customers at higher interest rates, as they are forced to cope with possible risks themselves.

The influence of state banks on the country's economy is twofold. On the one hand, state-owned banks, unlike commercial ones, are not interested in artificially inflating inflation and demand for money, so they help maintain stability and avoid crisis phenomena. On the other hand, according to recent studies, the level of public debt is lower in those countries where banks are mainly commercial and in private hands.

State banks of the Russian Empire

The central bank in pre-revolutionary Russia was the State Bank of the Russian Empire. The bank began operating under this name in 1860, after it was reorganized from the State Commercial Bank. The State Bank of the Russian Empire was a state-government bank and performed the functions of a central bank. In addition, the bank played a vital role in the economic sphere of the Russian Empire and was the conductor of the government’s state economic policy. The State Bank of the Russian Empire was the country's main credit institution and issued medium- and long-term loans. It had a network of its branches and offices in which it provided credit services to industry and trade.