RDIF and Russia-Japan Investment Fund to invest in subsidiary bank of SBI Holdings in Russia

Press release, 22.01.2019

Moscow, January 22, 2019 – The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. The agreement was signed today on the sidelines of a meeting between Russian President, Vladimir Putin and Japanese Prime Minister, Shinzo Abe.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“Investments in SBI Bank LLC are an example of the growing cooperation between RDIF and SBI Holdings. We are pleased to expand the list of joint projects in financial services and biotechnology thanks to the extensive financial innovation experience of our Japanese partner. Together, we plan to conduct a large-scale reorganization of SBI Bank LLC and support SBI Holdings in its efforts to provide impetus to the technological development of the Russian banking sector.”

Andrei Karyakin, Chairman of the Board and member of the Board of Directors of SBI Bank LLC, said:
“This is certainly a new milestone in the history of SBI Bank LLC. The RDIF and JBIC IG Partners investments open up new opportunities for the bank and enable it to implement ambitious and unique projects in the field of building financial banking and non-banking services around the needs of our customers in both retail and corporate segments.”

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Russia-Japan Investment Fund was established to pursue and implement attractive investment projects to promote economic, trade and investment cooperation between Japan and Russia. Priority sectors identified for cooperation include healthcare, the development of smart cities and sustainable technologies, energy, cutting-edge technologies, developing industries and exports in the Russian Far Eastern District, as well as other initiatives that will strengthen trade economic relations between the two countries. Further information can be found at www.rjif.org

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than 1.4 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people, and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than 40 billion dollars. Further information can be found at www.rdif.ru

SBI Holdings was founded in 1999 and is a pioneer in online financial services. The company created the world's first online financial ecosystem, offering online securities, banking and insurance services. In addition to financial services, the company operates an asset management business, with a focus on venture capital investments, as well as a biotechnology-related business.

SBI Bank LLC has been operating since 1994 (previously CB Obibank LLC, CB YAR-Bank LLC). Since 2017, SBI Holdings, a Japanese leading financial group, has become the sole participant of CB Yar-Bank LLC, which owns 100% of its share capital. In 2018, a new name was registered - SBI Bank LLC, which identifies the Bank as a structural element of the holding.

Currently, SBI Bank LLC is at the stage of restarting its business model of a universal bank, which will be based on high financial digital technologies.

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133