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

Press release, 26.01.2021

Moscow, January 26, 2021 – Russia-Japan Investment Fund (RJIF, established by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) and The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth) have finalized the investment in SBI Bank LLC, SBI Holdings’ subsidiary in Russia.

SBI Bank will use proceeds from the transaction to finance its further expansion and to develop its main business activities after a successful restart of the business model focusing on cutting-edge digital technologies in finance.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:

“The investment by RDIF and RJIF in SBI Bank is aimed at creation of a leading digital bank in Russia alongside SBI Holdings - our strategic partner from Japan. Supporting projects that introduce advanced technologies and are aimed at strengthening the investment cooperation between Russia and Japan is one of the key focus areas for the Russia-Japan Investment Fund. We are confident that this partnership will bring benefits both to the Russian banking segment as well as to SBI Bank as our joint investment expertise will enable it to build on an effective business model and the latest solutions in fintech.”

Andrey Karyakin, Chairman of the Management Board and Board of Directors member of SBI Bank, commented:

“It is very important for us to get support for our strategy approach from world-class investors, which implement nation-wide projects. This will give additional incentive to the development of SBI Bank as a universal financial institution supporting the Russian economy, as well as help us to implement even more initiatives to bring Japanese business to the Russian market”.

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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 80 projects with foreign partners totaling more than RUB2 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at www.rdif.ru

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

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 in Russia since 1994. Since 2017, SBI Holdings has become part of Japan’s SBI Holdings, which unifies over 250 leading fintech-companies and high-technology projects in a number of countries. Following the SBI Holdings’ digital transformation model in the finance SBI Bank is actively developing the business model of a universal online bank and offers Russian legal entities and individuals a range of products for small and medium-sized businesses, including electronic bank guarantees, as well as an integrated digital solution "Svoi Krug" for family budget management.

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

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