UralSib was founded in 1993 as an entity wholly-owned by the Republic of Bashkortostan (RoB), a mineral-rich autonomous region located in the east of the European part of Russia. Until 2000, when a 14% stake of the Bank was sold to external parties, the Bank had been 100% owned by the RoB. In late 2003, 72.5% of the Bank was acquired by companies related to the Nikoil Financial Corporation (Nikoil FC), a major Russian financial group that owns and controls two commercial banks, IBG-Nikoil Bank (Nikoil) and Avtobank-Nikoil (Avtobank) as well as several other banking financial companies such as factoring, leasing, insurance and asset management. The acquisition of the Bank was part of an expansion process initiated by Nikoil FC to bring together one of the most complete financial groups in Russia. The new merged group will be among top 5 banking institutions in Russia.
Bank Uralsib provides a range of banking and financial products for private and corporate clients. The Bank offers such services as the opening and maintaining bank accounts, debit and credit cards, safety deposit boxes, cash and non-cash money transfers, payments of bills for public services and utilities, currency exchange, settlement and cash services in national and foreign currencies, money lending, securities trading, card transactions, payroll services, investment services and other financial services. The Company operates through numerous branches, subsidiaries, and affiliated companies.
Bank Uralsib also transfers payments in Russia and internationally, exchanges currencies, and provides other banking services to its commercial and retail customers.