Rosbank Group continues to digitalize and focus on its areas of expertise to better serve retail clients

    15 October

Rosbank Group, which includes Rosbank, a universal bank, and Rusfinance Bank, which specializes in car and consumer lending, shows solid results in the retail business, including car loans and mortgages, thereby gradually implementing its strategic development plan. Since the beginning of 2019, Rusfinance Bank has been a leader in the volume of car loans production, and Rosbank is in the top-5 banks in terms of the size of its mortgage portfolio.

Such results have been achieved thanks to the effective model of customers’ acquisition, as well as the efforts undertaken by the Group to digitalize business processes and develop an integrated banking platform. Indeed, the Group sees a great potential in the development of digital solutions in the Russian market. In recent years, Rosbank Group has introduced several new solutions on the market: online mortgage approval service integrated with the portal “Gosuslugi”, online car loan approval, online cash loan in 15 minutes, digital card.

With the increasing penetration of digital banking services among the clients, as well as with a change in customers’ behavior, the POS lending market has been growing slowly over the past few years with limited prospects for the further development. Therefore, the Group has made the decision to exit the POS lending segment to focus on key business areas with greater potential of growth in line with its strategic plan. Rusfinance Bank will maintain a partner presence in retail networks until the end of 2019, and then will stop lending activities at the points of sale. Going forward, the transformation of POS business to digital format is under consideration. At the same time, Rusfinance Bank will continue to focus its resources on the car lending segment, where it already occupies the leading position.

The drivers of development of the Rosbank Group's retail business in Russia continue to be car lending, mortgage, consumer lending for payroll clients, solutions for the premium segment and professionals and servicing wealthy clients - private banking. In addition, the Group will continue to develop its transactional business, focusing on the digitalization of services.  

This strategy will allow Rosbank to bring most value to its clients, providing them with the highest level of service while strengthening its position as a leading player in the Russian banking market.

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