Sverdlovsk Region’s division of Rospotrebnadzor (the state consumer rights watchdog) declared upon looking into the performance of Sverdlovsk Region-based banks that the issue of consumer rights protection is as vital on the financial services market as on any other one. Customers unhappy with various banks keep placing increasingly more complaints with the service: the number of those went up from two in 2006 to 33 in 2007 to 84 in 2008 to 86 in 2009 and to 320 in 2010.

In the year 2010, most complaints were placed against OOO KB Renaissance Capital, OOO Rusfinance Bank, OAO AKB Rosbank, and some others.

‘The analysis of customers’ complaints and the papers they provided to support their claims shows that banks actually appear to commit administrative offenses that must be prosecuted in accordance with Article 14.8 of the Russian Federation Administrative Offense Code. OAO AKB Souyz, ZAO Raiffeisenbank, OAO Rus-Bank, OAO Nordea Bank, ZAO KB Citibank, ZAO AKB Absolut Bank, OAO Sberbank of Russia, ZAO GE Money Bank, and OAO Rusfinance Bank have received orders to this extent.