Ozon and Yandex banks are leaders in terms of deposit growth rates

Since the beginning of 2024, the volume of funds from individuals on deposits with Yandex Bank has increased 2.5 times, up to 37.4 billion rubles as of June 1. Over the same period, Ozon Bank increased the volume of deposits attracted by 2.1 times, up to 10.4 billion rubles as of the reporting date.

The relative growth rates of the deposit base of these banks turned out to be higher than those of all their competitors in the top 50. At the same time, Ozon Bank ranks 61st in terms of assets in Russia, Yandex Bank ranks 87th.

In absolute terms, Yandex Bank and Ozon Bank attracted more deposits during the period January-May 2024 than such top 20 players as Otkritie Bank, Pochta Bank, Rossiya Bank, Uralsib and Home Bank.

• Ozon told the publication that the business is actively developing both in terms of its product line and its customer base. In 2023, the marketplace launched savings accounts and deposits and offered competitive conditions to customers.
• Yandex associates the increase in balances on savings accounts with and without a term, as well as on Pay debit card accounts, with the growing interest of users in savings products and the Yandex debit card.

How markets bought banks

• ozone In the spring of 2021, it bought Oney Bank from Sovcombank and renamed it Ozon Bank. In February 2022, it mistakenly fell under US blocking sanctions due to its connection with Sovcombank. The restrictions were later lifted, but Ozon managed to register a new bank (Ekom Bank) and subsequently merged both credit organizations into one.
• “yandex” In the summer of 2021, he became the owner of Akropol Bank, which was soon renamed Yandex Bank.
• In February 2021, the main owner and director of the online retailer berries Tatyana Bakalchuk bought 100% of the shares of Standard-Credit Bank. A few months later it was renamed Wildberry Bank.