TRENDS IN RUSSIAN PREMIUM BANKING

Abstract. The aim of the article is to organise and compare published data on the Russian premium banking market and identify its key development trends. It examines capital growth, tiered service programmes, access to service packages, non-financial benefits and service delivery in Russia’s largest banks. The review identifies uneven market growth, broader product offerings and higher financial thresholds for access to premium products.

Keywords: premium banking; Russian banking market; personalised service; customer experience; non-financial benefits.

Introduction

Premium banking in Russia is changing. These changes are taking place not only because of digitalisation, but also because of stronger competition and changes in the expectations of wealthy clients. Banks can no longer limit their offers to traditional financial products and service terms: they are adding non-financial benefits, partner services and solutions that fit into clients’ everyday activities. In these conditions, a bank’s ability to create a relevant value proposition for different groups within the premium audience becomes an important factor in its competitiveness. This creates a need to analyse the current state of the premium banking market, identify its main development trends and examine changes in the way banks build their client offerings.

The aim of the article is to organise and compare published data on the Russian premium banking market and identify its main development trends. The review focuses on market growth, changes in product and service offerings, and banks’ approaches to positioning and promoting premium banking. The analysis covers retail premium programmes offered by major market players; private banking offers are considered when specifying the audience of individual partner schemes.

The methods include an analytical review of academic literature, a comparative analysis of publicly available industry materials and the grouping of market examples by topic. The review is based on studies of customer experience and loyalty, the results of Premium Banking 2025 and Frank RG monitoring in 2026. It also presents three practical examples of campaigns and benefits offered by Sberbank, Alfa-Bank and T-Bank. The information covers materials published by 12 October 2026; publication dates are distinguished from the periods studied.

Academic approaches to analysing premium banking

Academic literature examines premium banking through customer relationships, service quality and perceptions of the offering. A. Dick and K. Basu link loyalty to attitudes towards a provider and repeat use of its services [5]. S.B. Egala, D. Boateng and S.A. Mensah found a connection between the ease of use, efficiency, reliability and security of digital banking services and customer satisfaction and the intention to maintain the relationship [4]. S. Ho and A. Wong showed the importance of personality traits and trust in relationships with premium clients [11]. These findings explain the choice of service characteristics examined in this review; they do not, by themselves, establish trends in the Russian market.

P.K. Kannan and H. Li examine digital marketing through the links between customer touchpoints, marketing actions and results [12]. This approach makes it possible to analyse not only the contents of a package, but also how clients receive information, activate benefits and use services. The EY review suggests adding behavioural data and client goals to financial segmentation [6]. International materials are used to compare approaches, while conclusions about the Russian market are based on Russian industry data.

Size and structure of the Russian market

According to Frank RG estimates, the capital of premium banking clients increased from RUB 13.3 trillion in the first half of 2023 to RUB 17.1 trillion in the first half of 2024 and RUB 21.4 trillion in the first half of 2025. The latest annual growth rate was 25 % [10, p. 2]. The number of premium clients grew from 5.5 million to 6.2 million between the first halves of 2024 and 2025 [7]. These estimates relate to the stated periods and do not describe the final figures for 2026.

Capital growth differs across groups: it reached 3 % in Pre-affluent, 33 % in Affluent and 28 % in Top Affluent between the first halves of 2024 and 2025. In the report’s classification, Affluent refers to capital of RUB 3–10 million, while Top Affluent refers to capital above RUB 10 million [10, p. 2]. Thus, the higher financial groups grew faster than the lower group during the period studied. The nominal figures do not make it possible to measure separately the effects of returns, money inflows and changes in the client base.

A client’s segment within a particular bank may differ from their position in the overall market. In the Frank RG study, one third of clients classified by their bank as Pre-affluent had total capital of more than RUB 3 million [10, p. 4]. This difference must be considered when comparing financial groups: funds held in one institution and total wealth represent different bases for segmentation.

Trends in premium banking offerings

 1. Wider use of tiered service programmes

Frank RG identifies the spread of this model as one of the changes in premium banking in 2025 [7]. In this model, the range of services and benefit limits depend on the client’s tier. Monitoring in 2026 shows further changes in programme structures: the introduction of new tiers, changes in their positioning, and changes in how balances are calculated and benefits are provided [8]. A comparison of the materials shows that service terms continue to become more differentiated within the premium segment.

Tiered service differs from individual personalisation of an offer. The first links service terms to financial criteria, while the second involves adapting the offer and interaction to a particular client’s needs. The presence of several tiers confirms that premium offers are differentiated, but does not initially show that each service is selected individually.

2. Stricter product access requirements alongside broader offerings

According to Frank RG monitoring published on 14 August 2026, 9 out of 18 banks raised their premium banking eligibility requirements over the previous six months. Most banks that raised their thresholds also increased the value of their premium service packages. The changes included higher requirements for assets and transaction turnover, fewer alternative ways to receive free service, and higher fees when the conditions were not met [8]. For example, from 2026, the entry threshold for the fourth service tier in Sberbank’s premium range (SberFirst) was raised from RUB 10 million to RUB 15 million. Therefore, market development includes both broader offerings and more selective access.

These processes describe different sides of premium banking. Both factors must therefore be considered when comparing banks. The introduction of new benefits alone is not enough to conclude that conditions have improved for all clients if eligibility criteria are also changing.

3. Expansion of non-financial benefit

In the Frank RG study of 2025, demand for travel benefits stood at 90 %, medical benefits at 43 %, lifestyle services at 35 %, and sport and beauty services at 26 % [7]. In particular, in 2026, Sberbank introduced new medical services, wellness programmes and new options that clients can choose, such as “Auto” and “Pets”, which include insurance services for a car and a pet [8]. The materials show that offerings are expanding beyond travel services; at the same time, demand for travel benefits remains high.

Financial products also remain important for banks. According to the 2025 results summarised by Frank RG in February 2026, 78 % of respondents considered deposits and savings accounts important, while 50 % considered non-financial benefits important [9]. These data show demand for both the financial and non-financial parts of a premium product.

4. Development of flexible ways to use benefits

Frank RG materials describe the development of programmes that allow clients to choose services themselves. Gazprombank first introduced a flexible model for choosing benefits within a service package in 2022, while MTS Bank, Sberbank and Sovcombank developed similar approaches in 2024 – 2025. In 2025, VTB offered the option to exchange bank points for certain benefits [9]. These examples show changes in the ways services are provided, alongside an expansion of their range. Choice allows clients to use the available value in a way that is more relevant to them.

5. The changing role of digital channels and personal service in clients’ lives

According to Frank RG, 79 % of the premium clients surveyed considered the mobile app important, 65 % considered the personal manager important, and 37 % considered the chat important [9]. The 2025 study also records the movement of routine operations to digital channels and a shift in the manager’s role towards solving complex issues. At the same time, mystery shopping revealed limits in the depth of advice provided [7]. Thus, the development of digital services is accompanied by changes in the tasks of personal support.

The importance of the app and the manager shows the combined use of different channels. However, importance ratings from a single study without data over time do not allow us to establish annual changes in client preferences. The confirmed change in the materials reviewed concerns the division of tasks. At the time of the study in 2025, digital channels were used for standard actions, while personal support was used for more complex requests.

Practical examples of campaigns and partner offers

Good examples of how the trends described above are applied can be found in the activities of major market players.

For example, the recent partnership between Sberbank and Coffeemania allows SberFirst and Sber Private Banking clients to receive a free takeaway drink of their choice once a week at all restaurants in the chain, including airport locations [2]. This case illustrates a regularly available food and drink benefit, which has a positive effect on the satisfaction of Sberbank clients.

Another example of broader benefits is Alfa-Bank’s “Super Cashback Wheel: up to 100 % at Azbuka Vkusa” campaign for Alfa Only and A-Club clients. The benefit is provided when purchase conditions are met during the period from 26 January to 1 February 2026 [1, pp. 3-4]. In this case, the promotion is a temporary campaign in the everyday shopping category. However, it also highlights the expansion of client benefits and the possibility of adjusting the service package flexibly to client preferences.

A more recent example, reported on 9 October 2026, concerns the option for T-Bank Premium clients at Gold and Diamond tiers and Private clients to exchange unused taxi rides for points in the WellPass service [3]. This illustrates the opportunity to choose how an available benefit is used. The information comes from a publicly available publication.

The examples are compared in the table below. All the practical cases differ in audience, duration and mechanism; each illustrates a particular change in the offering. The three examples do not form a representative sample of the Russian market, but show changes taking place at the time of this study.

Table 1.

Campaigns and partner offers in premium programmes

Comparison of the review findings

The materials reviewed show several changes taking place at the same time. In 2024 – 2025, capital grew at different rates across financial groups. Tiered terms and flexible options became more common in programmes. In 2026, monitoring shows stricter requirements alongside an expansion of certain service categories. These processes do not amount to a single shift by all banks towards the same service model.

Customer survey data and information about programmes describe different sides of the market. Reported demand for a service is not the same as its frequency of use, and the introduction of a benefit does not confirm its effect on retention. Academic literature explains the importance of service quality and trust, while industry materials show specific changes in offerings. Comparing them makes it possible to identify development trends while respecting the limits of each source.

The review is limited by the large role of Frank RG in Russian industry data, differences in observation periods and the use of examples for illustration. Publications based on the same study are not treated as independent evidence. Advertising reach, the causal effects of campaigns on loyalty, and commercial performance were not assessed.

Conclusion

The organisation of published data identified uneven growth in the Russian premium banking market, the spread of tiered programmes, stricter access conditions in some areas, broader categories of non-financial benefits and more flexible ways to use them. Service delivery shows a redistribution of tasks between digital channels and personal support. Financial products and travel benefits remain important alongside new categories of offerings.

The examples from Sberbank, Alfa-Bank and T-Bank illustrate a regular partner benefit, a temporary campaign and an alternative way to use the available value. Taken together, the materials show differences in the contents, terms and delivery of premium banking services. The conclusions apply to the sources and observation periods reviewed; the performance of individual programmes and their effects on client behaviour require a separate assessment.