The Interstate Bank wishes everyone a Happy New Year and Merry Christmas! Please accept our most sincere and warmest wishes for the New Year!
International rating agency Fitch Ratings has affirmed Interstate Bank's (IB) Long-Term Issuer Default Rating (IDR) at 'BB' with a Positive Outlook.
Fitch rates IB as a supranational administrative body (SAB), given its unique business model as a multilateral settlement institution operating in the Commonwealth of Independent States (CIS) and Eurasian Economic Union (EAEU).
The founders and shareholders of Interstate Bank are nine countries represented by the Central (national) banks of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Moldova, the Russian Federation, the Republic of Tajikistan, Turkmenistan and Ukraine.
The Interstate Bank provides cash and settlement services to its clients, both in national currencies of CIS countries and in freely convertible currencies. In the press release of Fitch Ratings is noted the prudent approach of the Bank towards risk management. In addition, Interstate Bank faces minimal currency risk as it does not hold open currency positions except for small cash balances.
Affirmation of the rating by Fitch Ratings gives grounds for further steps in the business of Interstate Bank, in opening and development of new activities, implementation of new opportunities in the markets of the founding countries, strengthening relations with partners.
I. Souvorov, President of Interstate Bank: "In 2019 Interstate Bank will continue building relationships with partners in order to develop a system of payments in the national currencies of the CIS countries".
Since the beginning of 2018, payments in Armenian drams (AMD), Belarusian rubles (BYN), Kazakhstani tenge (KZT) of customers and correspondent banks of Interstate Bank grown up.
Payments are made by Interstate Bank directly through the payment systems of Central (national) banks of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.
Dynamics of exchange rates of national currencies for January-November 2018 can be found at www.isbnk.info
As of September 30, 2018 the Interstate Bank’s capital equaled 5.9 billion rubles. More detailed.
According to the interim condensed financial statements of the Interstate Bank for nine months of 2018, the net income has reached 301.9 million rubles. More detailed.
Net interest income of the Interstate Bank for nine months of 2018 amounted to 537.2 million rubles.
On November 23rd, 2018, the Interstate Bank together with the Eurasian Economic Commission and UNCTAD held an annual International macroeconomic seminar «Can coordinated macroeconomic policy actions help to avoid trade confrontation and wars?».
With a welcoming speech, president of the Interstate Bank I. Souvorov and a member of the Board (Minister) of EEC integration and macroeconomics Т. Valovaya appealed to the participants and guests of the seminar.
The seminar was devoted to presentation of a new UNCTAD Trade and Development Report. Leaders of the EAEU, UNCTAD, IMF, ESCAP were among the speakers. The representatives of the Central (national) banks, ministries of Finance and ministries of economy of the EEU countries, the diplomatic corps, academic circles took part in the seminar.
Reports can be found at isbnk.info
The V International Macroeconomic Seminar began in Moscow
Relevant information and quotes from the participants can be found on Twitter Interstate Bank
The Interstate Bank publishes on its website interim condensed financial statements for the nine months of 2018 prepared in accordance with the International Financial Reporting Standards (IFRS)
The use of national currencies in cross-border calculations: prerequisites, barriers and perspectives. The interview with the President of Interstate Bank I. Souvorov is posted on the website
November 23 at 10 a.m. start registration for the V Annual International Macroeconomic Seminar.
The seminar begins at 11 a.m.
The venue: Moscow, 3/5 Smolenskiy blv., conference hall (4th floor, room #408).
The program of the seminar “Can Coordinated Macroeconomic Policy Actions Help to Avoid Trade Confrontation and Wars?”
On the 23rd November, 2018 Interstate Bank together with the Eurasian economic Commission and UNCTAD will organize the V international macroeconomic seminar. This is a traditional annual event dedicated to the main trends and forecasts of the world economy, as well as presentations of reports of leading international organizations (IMF, ESCAP, UNCTAD, etc.). In 2015, the seminar was devoted to the macroeconomic policy of regional integration associations, in 2016 – to the challenges and opportunities of economic development of the Eurasian economic Union, in 2017 – Sustainable growth and inclusive economy.
The theme of this year's seminar is "The Global Trend toward Confrontation and/or the Need for Supranational Macroeconomic Coordination Policy". Moderators of the seminar will become a member of the Board (Minister) of EEC integration and macroeconomics, Т. Valovaya and President of the Interstate Bank I. Souvorov. To participate are invited representatives of Central (national) banks, ministries of Finance and ministries of economy of the EEU countries, the diplomatic corps, academic circles.
The seminar will be held at 3/5, bld.1, Smolensky boulevard, Moscow (conference-hall 4th floor, room 408). We invite you to take a part in the seminar.
Registration is open until the 20th of November, 2018. Contacts are pointed in the program attached.
A meeting with Russian overseas banks’ high-ranking executives
The president of Interstate bank, I. Souvorov, discussed the issues on development of national currency transactions in the EEU member countries with the member of the Board - Minister in charge of Integration and Macroeconomics of the Euroasian Economic Commission (EEC), Tatyana Valovaya.
The president of Interstate bank, I. Souvorov, took a part in "the EEU in the dynamics of the world processes: the results and the perspectives of the Eurasian integration" expert group in the framework of the Euroasian Week international forum which was being held in Yerevan (the Republic of Armenia) from October 22 to October 24. The member of the Board - Minister in charge of Integration and Macroeconomics of the Euroasian Economic Commission (EEC), Tatyana Valovaya, was a discussion moderator. The corresponding news is posted on the website of the Euroasian Economic Commission.
President of the Interstate Bank I. Souvorov, during his speech at the Eurasian Week in Yerevan, noted that the Interstate Bank can ensure effective settlements in national currencies between participants of foreign economic activities from the EEU member countries
On October 18-19, 2018 a delegation of the Interstate Bank took part in the First Forum of trans-regional cooperation between Russia and Uzbekistan which was held with participation of the heads of states (Tashkent, the Republic of Uzbekistan).
During the visit President of the Interstate Bank I.G. Souvorov also held meetings with Deputy Prime Minister – Minister of Finance of the Republic of Uzbekistan D.A. Kuchkarov, and with Deputy Chairman of the Central Bank of the Republic of Uzbekistan I.I. Norkulov.
The president of Interstate bank I. Souvorov believes that in the long term shifting away from US dollar and increase in the role of national currencies for payments is one of the major tasks for monetary relations in the EEU territory
The interview with the President of Interstate Bank I. Souvorov is posted on the website of the magazine “Banking”. He told about the history of Interstate Bank, its place and role in integration processes, perspectives and priorities
The delegation of Interstate Bank will take part in the 3rd International Forum "The Eurasian Week", which will be held on 22-24 October in Yerevan (the Republic of Armenia). The Forum is organized by the Eurasian Economic Commission.
The President of Interstate Bank I. Souvorov was invited to join the work of the expert club "EEC in the dynamics of the world processes: the results and the perspectives of the Eurasian integration", where it is planned to discuss issues of further development of the EEC in the context of the global economy transformation and global economic challenges. The meeting of the expert club is scheduled for October 23
The delegation of Interstate Bank will take part in the 8th Congress of Financiers of Kazakhstan, which will be held on 15-16 November in Almaty (the Republic of Kazakhstan). The organizers of the Congress are the National Bank of the Republic of Kazakhstan and the Association of Financiers of Kazakhstan.
The President of Interstate Bank I. Souvorov in the Congress will be a moderator of the session "The use of national currencies in cross-border calculations: prerequisites, barriers and perspectives".
It is planned at the session to discuss the payment mechanisms for cross-border payments, the choice factors of currencies for international payments, perspectives and opportunities to increase the attractiveness of national currencies to use in calculations in foreign trade operations, the main reasons hindering the increased use of national currencies, the advantages of currencies internationalization, the development of mutual access to national currency markets and other issues.
We invite you to take part in the 8th Congress of Financiers of Kazakhstan.
New Table of Tarrifs of the Interstate Bank will become effective as from October 1, 2018
More than 20 years, Interstate Bank works in the sphere of payments in the national currencies of CIS countries. Since 1999 the year Interstate Bank is a party to the payment systems of the Central (national) banks of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan and carries out calculations of correspondent these accounts, opened in the Central (national) banks.
The payment mechanism of Interstate Bank allows to carry out payments in the following national currencies: AMD, BYN, Kazakhstan tenge, Kyrgyzstani soms, Russian rubles and Tajikistani somoni.
An interview with I. Souvorov, the President of “Interstate Bank”, was published in “Banking” journal (issue No. 9, 2018), where he talked about the Bank's development, its place and role in integration processes, its prospects and priorities.
On September 26, 2018 the representatives of “Interstate Bank” took part in the meeting of the Expert Council on Financial Integration of the member states of the Eurasian Economic Union. The meeting was organized by the Bank of Russia.
The issues of financial integration in the European Union and the experience of creating international financial centers in the CIS space were discussed. The participants have exchanged their views on the international practice of financial integration.
The Interstate bank is glad to announce that it has the official account in Twitter.
Dear partners, clients and contractors, please, subscribe. Read and watch topical news and events of the Bank.
A regular meeting of the Intestate Bank Council was held in Yerevan (the Republic of Armenia) on September 17, 2018. The meeting was attended by the representatives of the founding states of the Bank. The Governor of the Central Bank of Armenia Arthur Javadyan was re-elected to the post of the Chairman of the Intestate Bank Council. The next meeting of the Council will be held in April 2019.
The Intestate Bank delegation headed by the President I. Souvorov has visited the Republic of Armenia to participate in an international conference dedicated to the 25th anniversary of the Armenian dram. The heads of central (national) banks of the CIS countries as well as the representatives of financial circles of Europe and the USA took part in the conference.
The Interstate Bank introduces certain changes into its Tariffs.
These changes will become effective as of October 1st, 2018.
See details at
On September 11, 2018, the representative of the Interstate Bank took part in a meeting of the scientific and methodological seminar organized by the Financial University under the Government of the Russian Federation. With a welcoming speech, the rector of the Financial University M. Eskindarov appealed to the participants and guests of the seminar.
With a scientific report on "World finance: in anticipation of the "ideal storm?" (threats to Russia)", corresponding member of the Russian Academy of Sciences, first deputy director of the Institute of Economics of the RAS, M. Golovnin, gave a speech. He outlined the threats to financial stability in the world economy, and also spoke about the status of the world financial markets, assessed the prospects of the world oil market and the problems of emerging markets. Golovnin noted that the indicators of the world economy remain stable, but the uncertainty of the dynamics of the US financial market and the world oil market is still a problem. Among the main threats, he attributed the growth of interest rates in the US, as well as threats from emerging markets (possible "effect of infection").
Regarding Russia, Golovnin identified the following external factors that affect the economic dynamics in 2014-2018: a reduction in Russia's participation in cross-border capital flows and external sanctions, which he called a challenge for Russia.
The Interstate Bank publishes on its website interim condensed financial statements for the six months of 2018 prepared in accordance with the International Financial Reporting Standards (IFRS), with the independent auditor’s report on review of these statements.
Igor Suvorov, President of the Interstate Bank, noted: “We continue increasing our profit and capital step by step notwithstanding the reduction of market interest rates that has taken place until recently”.
Key financial indicators:
• Net Profit has totaled RUB 199.8 million for 6 months of 2018, increased by 6.1% year-on-year
• Assets have grown by 6.8% to reach RUB 10.3 billion, supported by growth in customers accounts of 19.8% up to RUB 3.2 billion
• The Bank continues accumulating the capital which almost reached the level of 6 RUB billion following the increase by 2.8% due to the profit earned in the first half of 2018
• CET 1 capital adequacy ratio proves to have a considerable buffer of sustainability. As of June 30, 2018 this ratio was 35.5% which is by 3.0 p/p better than the same at the beginning of the year
Interstate Bank’s 2017 annual report participates in the 21st Annual Contest of Annual Reports. It is organized by Moscow Exchange and RCB Media Group and is the main platform for the presentation of annual reports and one of Russia’s most important IR events of the year. The jury consists of representatives of large investment funds, leading financial analysts, corporate management and communications specialists, journalists, delegates of professional organizations.
The results will be summarized in November 2018.
On July 25-26, 2018 Interstate Bank’s representatives took part in a seminar on the professional training of employees of the central (national) EAEU banks that was held at the Tula-based Interregional Training Center of the Bank of Russia and delivered a speech on the topic «Implementation of Digital Technologies in Financial Markets».
The Interstate Bank deligation, headed by President I. Souvorov visited the Republic of Uzbekistan and held meetings with Deputy Prime Minister of Uzbekistan - Minister of Finance D. Kuchkarov, with the Deputies Chairman of the Central Bank of the Republic Of Uzbekistan B. Zaxidov and I.Norkulov, and also with a number of commercial banks representatives.
One of the key events of the financial sector «Astana Finance Days» took place in Astana (the Republic of Kazakhstan) on July 3-5, 2018. More than 150 authoritative foreign speakers and 4,000 participants became the guests of the conference; more than 400 journalists covered it.
The official opening of the Astana International Financial Center (AIFC) was the main event of Astana Finance Days, which brought together heads of state and leading foreign financial organizations, politicians and private sector representatives, financial experts and heads of major transnational companies, experts of academia and analytical centers.
Within the framework of «Astana Finance Days», the President of the Interstate Bank Igor Souvorov and the Governor of the Astana International Financial Center Kairat Kelimbetov have signed a memorandum of understanding between the Interstate Bank and the Astana International Financial Center.
"We can proceed from the fact that the international financial center has appeared on the Eurasian territory. Before that, we knew such centers in London, New York, Singapore and Dubai. Now it has its own international financial center," - Souvorov said after signing the memo.
According to the memorandum, the parties develop mechanisms for long-term cooperation to strengthen permanent relations based on mutual interests and benefits. Among the main directions are: the exchange of information, the promotion of development and the exchange of best practices and knowledge, the development of financial instruments and markets.
After the highspot a special session of the Interstate Bank was held, which was dedicated to the 25th anniversary of its foundation. The session was opened by K. Yudaeva, the First Deputy Governor of the Bank of Russia.
Igor Souvorov made a presentation on the history of the creation of the Interstate Bank, its activities and prospects in the context of the development of integration processes in the Eurasian space.
After Souvorov's speech T. Valovaya (Member of the Board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission), Т. Suleimenov (Minister of National Economy of the Republic of Kazakhstan), Zh. Kurmanov (Deputy Governor of the National Bank of Kazakhstan), A. Melnikov (Vice-president of the Association "Russia") made their presentations.
Speakers and guests of the session wished « Interstate Bank» success and further development.
One of the key events of the financial sector «Astana Finance Days» will take place in Astana (the Republic of Kazakhstan) on July 3-5, 2018. The Interstate Bank has become a partner of this unique event.
The main event planned within the framework of «Astana Finance Days» is the gala presentation of the International Financial Center «Astana» (IFAC), which will bring together heads of state and leading foreign financial organizations, politicians and private sector representatives, financial experts and heads of major transnational companies, experts of academia and analytical centers.
The prime goal pursued by the organizers is to attract the best experts for the development of regional markets and strengthen international cooperation, discuss key issues in panel sessions and round tables, recognize the legal framework for supporting and protecting markets, investments and the business climate, as well as find solutions to key issues, which are the basis of digital economy.
During “Astana Finance Days” a special session of the Interstate Bank dedicated to the 25th anniversary of its foundation will be organized.
Heads of central (national) banks of the founding states of the Interstate Bank, heads of the integration bodies of EEU and CIS, representatives of business community are invited.
Session of Interstate Bank will be held on July 4, 2018 at 5 p.m.
The detailed program is available on the website of “Astana Finance Days”.
On June 6-8, 2018 in St. Petersburg, Russia, the representatives of the Interstate Bank took part in the 27th International Financial Congress (IFC-2018) “The Financial System: Stability for Growth”.
Topics discussed at the Congress included current problems facing the financial industry, the development of regulation and oversight for financial markets, the adoption of financial technologies, monetary policy, and prospects for the Russian economy.
The Annual report of the Interstate Bank for 2017 was published on the official web site of the Bank.
On April 20th, 2018 The Interstate Bank together with the Eurasian Economic Commission and the Financial University under the Government of the Russian Federation took place the international conference on blockchain technology and cryptocurrencies.
On April 20, 2018 The Interstate Bank together with the Eurasian Economic Commission and the Financial University under the Government of the Russian Federation will organize the international conference on blockchain technology and cryptocurrencies.
Registration is open till April 17, 2018.
Details are pointed in the program attached.
New Table of Tarrifs of the Interstate Bank will become effective as from March 1, 2018
On 21 February 2018 the representatives of the Interstate Bank participated in a meeting of the Expert Council on financial integration of the Eurasian Economic Union (EAEU) member states headed by the First Deputy Central Bank Governor K. V. Yudayeva.
During the Council’s session the representatives of the Bank of Russia, Ministry of Finance of the Russian Federation, Moscow Exchange (MOEX), the Association "Russia", the Interstate Bank and other relevant organizations discussed the issues of common approaches to financial integration and prospects of financial markets’ development, including the insurance services in the EAEU member countries.
The representatives of the Interstate Bank took part in the parliamentary hearing on the formation of legal environment for funding and development of digital economy.
The Interstate Bank introduces certain changes into its Tariffs, in particular to the Foreign Currency Control section.
These changes will become effective as of March 1st, 2018.
See details at
Dear Clients, On March 1st, 2018 new Regulation of the Russian Central Bank No. 181-I dated August 16, 2017 will come into force.
See details at
The Interstate Bank joined the Association “Russia”.
The Association “Russia” (until September 2017 - the Association of Regional Banks of Russia) was established in 1990. It comprises more than 300 members including about 200 banks. Georgy Luntovsky is the President of the Association.
The main goals of the Association are to promote development of the banking system’s stability, to ensure economic and legal back up for the banks’ activities and their dynamic involvement into the country’s economy.
January 22nd, 2018 marked the twenty fifth anniversary of the Interstate Bank. This day a quarter of century ago ten CIS member states (the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Moldova, the Russian Federation, the Republic of Tajikistan, Turkmenistan, the Republic of Uzbekistan and Ukraine) signed the Agreement on Foundation of the Interstate Bank.
Since then the Interstate Bank has expanded its activities in the CIS and EEU member countries, paying special attention to the development of the operations in the national currencies. At present the Interstate Bank considers as its primary objective the facilitation of economic integration and development of the national economies of the CIS and EEU member countries.
Good partnership relations with the central (national) banks of the member states, international organizations and clients have always been the key element of the Interstate Bank activities. The Interstate Bank is grateful to its partners for the long-standing and beneficial cooperation.
On December 21st, 2017 Fitch Ratings, an international rating agency, assigned the Interstate Bank a Long-Term Issuer Default Rating of “BB” with a Positive Outlook.
It was for the first time in the Bank’s history that the Interstate Bank was assigned a credit rating.
In its official publication Fitch Ratings specifically highlighted the Interstate Bank’s role as an international cross-border settlement institution operating in the CIS and the Eurasian Economic Union.
The assignment of such rating to the Interstate Bank will help the Bank deliver on new potential in the markets of the member-states, strengthen the relationship with partners and take systematic steps further to expand its activities.
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OOO “Financial and Accounting Consultants” has been approved as the winner of the Tender on selection of an audit organization to audit the financial statements of the Interstate Bank for 2017 on the basis of a decision taken by the Tender commission on selection of the audit organization.