|Traded as||MCX: USBN|
|Rating||B3 (Moody's) (2017)|
Uralsib (Russian: Уралсиб) is a Russian financial corporation. It was created by merging Ural-Siberian Bank and Avtobank-NIKoil. The latter was Nikolai Tsvetkov's company closely affiliated to LUKoil. In 2013 it employed 19,342 people.
Uralsib is said to have been "roiled by mismanagement", with its founder Tsvetkov agreeing to step down in 2015 in return for a bailout, as the bank was on the verge of bankruptcy and having its banking license revoked. During his time as chairman Tsvetkov became known for his application of New Age philosophy to company management, which included requiring all employees to read books by a self-help guru and holding spiritual seminars to determine promotions.
A 82% stake in Uralsib was sold to Vladimir Kogan in November 2015 to avoid bankruptcy. As part of a rescue plan, Russia's Deposit Insurance Agency also agreed to a $224 million rescue package for the bank. In 2016 Uralsib was ranked as the second least reliable bank in the country by the Russian version of Forbes. In June 2017 Moody's raised the credit rating of Uralsib from Caa1 to B3, reflecting the bank's return to operational profitability.
- "Two Banks Plan Merger After a 'Rigged' Sale". The Moscow Times. Retrieved 28 August 2017.
- "UralSib Reportedly Planning 20% Staff Reduction". Retrieved 28 August 2017.
- "Russia’s Uralsib brought down to earth as bank puts UK unit up for sale". bne IntelliNews. Retrieved 6 April 2017.
- "New age beliefs fail to help Russian lossmaking Uralsib bank". Financial Times. Retrieved 28 August 2017.
- "UPDATE 3-Russian tycoon Kogan takes 82 pct of Uralsib Bank in c.bank rescue". Reuters. 2015. Retrieved 28 August 2017.
- "Кредит доверия: рейтинг надежности банков". Forbes Russia. Retrieved 6 April 2017.
- "Moody's upgrades Bank Uralsib's deposit ratings to B3 from Caa1; outlook positive". Moodys.com. 5 June 2017. Retrieved 28 August 2017.
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