The U.S Department of the Treasury has lifted sanctions against Russian ex-banker Ilya Brodski, who has both Russian and Cypriot citizenship.
Ilya Brodsky was the president of Sovcombank. In March 2022, sanctions were imposed on Ilya Brody and 16 other members of the board of Sovkombank. The bank has been subject to U.S. sanctions since February 2022.
SanctionsLists.org checked Ilya Brodsky’s information on the Russian business registry. It turned out that Ilya Brodski was a co-owner of more than twenty companies, but he had left all of them.
Sovcombank was founded in 1990. Presently Sovcombank Group includes a systemically important bank, insurance, leasing, factoring and other financial companies. Sovcombank is one of the fastest growing and highly profitable financial groups in Russia: over 10 years, the average return on equity (ROE) is 35%, and the compound annual equity growth rate is 35%.
In 2002, when Sovcombank (Buoykombank at the time) was acquired, it had one branch, 17 employees and ₽2 million equity. As at 31.12.2023 Sovcombank was the #3 largest privately-owned bank in Russia by total RAS asset, had a branch network of 2 thousand offices in 1 thousand Russian towns and employed 29 thousand people.
