LOCKO-Bank was founded in 1994 by a group of businessmen with a wide range of industrial and commercial interests. At the beginning the Bank was used for facilitation of settlements of the group of shareholding companies and their partners. However, in 1998 the Bank started its development as a universal financial institution offering a full range of banking services across various sectors of the Russian economy.

Year 2004 marked the new stage of the Bank’s development as the management adopted a new strategy with a focus on standardized lending programs to SMEs. LOCKO-Bank determined to increase its market share in the SME segment and to become one of the leading financial institutions in this banking sector. The Bank is also retaining its presence in the segment of larger corporate and VIP client servicing.

In December 2005 LOCKO-Bank changed its legal form from a Limited Liability Partnership into a Closed Joint Stock Company in order to improve its corporate governance system. LOCKO-Bank’s corporate system is now developing in accordance with the best international practices. In 2008 LOCKO-Bank was named “A leading Bank in corporate governance in Central and Eastern Europe 2008” by Euromoney magazine.

With a strong franchise in Moscow LOCKO-Bank pursues cautious regional development strategy. Currently LOCKO-Bank operates 29 full regional and 6 Moscow-based branches in the key economic regions of Russia.

LOCKO-Bank proved to hold a stable position among top Russian Banks ranking 87th by assets. High standard risk management and strict control over the asset quality help the Bank to withstand the ongoing financial turmoil. The Bank has two international credit ratings: long-term ‘B+’ rating from Fitch Ratings and ‘B2’ from Moody’s Investor Services.

Main business activity

Several years ago LOCKO-Bank decided to move more aggressively into the SME segment. The Bank believes that this segment is of particular importance to Russia’s economic development. LOCKO-Bank is ranked 10th among Russian Financial Institution by its SME loan portfolio.

Advantages of the Bank

• sound knowledge of the domestic market environment,
• conformity with best international practices,
• reliability, high business ethic standards and solid reputation,
• transparency and conservative risk management,
• innovative banking technologies.

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