Credit Bank of Moscow takes second place in Forbes ranking of Russian lenders

Credit Bank of Moscow has climbed further up the leaderboard of privately-owned firms in Russia, according to the results of Forbes's latest annual ranking.

The lender rose to 62nd place, up from 63rd one year ago, taking the second spot from among its sector peers, having first entered the ranks of Russia's top 10 lenders in 2016.

Included in Forbes's Top 200 Russia Companies' list are those firms in which the state and foreign owners hold no more than half their capital, ranked according to the revenues that they achieved in 2017.

Among the top ten enterprises on the list were four oil and gas companies, two of the largest players in the retail market, and three metallurgical companies.

In local currency terms, in 2017 Credit Bank of Moscow posted a 17% increase in full-year revenues to 146.9bn roubles, with net interest income on an IFRS basis, and before provisions, increasing by 12.4% to reach 45.3trn roubles.

Over the same time span, net income soared 90.4% to 20.7bn roubles.