Russian Standard Bank

Russian Standard Bank was founded in 1999. The bank was established at the initiative of a group of Russian financiers and entrepreneur Roustam Tariko. Tariko's company, Roust Group, purchased Agroopttorg Bank as a launch platform, representing the quickest way of acquiring a banking license. This provided automatic access to retail customers and t... he ability to quickly initiate a new consumer finance program. The bank was registered as a joint stock company and immediately renamed Russian Standard Bank. The bank was founded at the height of the Russian financial crisis, which was threatening to undermine the economic gains the country had achieved during Russia's transition to a market economy. At this time, many foreign-based banks had scaled back their lending operations, while others, including many Russian banks, had stopped making small business and consumer loans altogether. The management of Russian Standard Bank saw a unique opportunity for a Russian owned and operated bank to reinvigorate and revolutionize direct consumer lending and credit services in the Russian marketplace. The bank's founder, Roustam Tariko, aspired to help Russian consumers translate their dreams into reality by helping them finance the purchase of premium quality goods. Tariko's mission was to bring affordable luxury to all Russian people. Russian Standard Bank continues to grow and expand at a rapid pace. The driving forces behind the Bank's success have been a clear and focused growth strategy and a thorough analysis of consumer and market trends, as well as adaptation and adherence to best global practice in the consumer finance industry.Read More