[3] From 1990 its initial name was Buycombank (after former headquarters town Buy in Kostroma region) before been bought and rebranded into Sovcombank and his partners in February 2003.

[4] The main owner of Sovcombank (86.5%) is the Russia-based company JSC Sovco Capital Partners, owned by private Russian shareholders, notably (as of February 2023) the Russian oligarch Matvey Yozhikov owns 90% of Sovco Capital Partners.

[10][11] In September 2007, the shareholder of Sovcombank became the international investment company from the Netherlands TBIC Financial Services BV (TBIF).

[12] As a result of this transaction, Sovcombank turned out to be the only owner of TBIF assets in Russia represented by the Siberian Arch Credit Network (about a thousand salespies).

Under the terms of the transaction, the Kardan TBIF subsidiary received 50% of the shares in Sovcombank, making 100% of the Arch and about $65 million.

[10] In early 2019, another additional issue was held, as a result of which the authorized capital of Sovcombank increased by ₽ 100 million to ₽ 1.97 billion.

[16][17] In 2021 Sovcombank closed a deal to buy Vostochny Bank from its key shareholders - Baring Vostok Fund, Finvision Company and Sherzod Yusupov.

[18] In December 2021 Sovcombank signed a binding agreement on the purchase of an insurance division “CiV Life” from HDI International AG, affiliate of the Talanx group.

[24] On February 24, 2022, in response to Russia's invasion of Ukraine, U.S. President Joe Biden announced additional economic sanctions against Russian individuals, companies and financial institutions, including Sovcombank and its subsidiaries.

[25][26] These sanctions freeze any of Sovcombank assets touching the U.S financial system and prohibit U.S. persons from dealing with the bank.

[26] As result, plastic cards issued by Sovcombank will remain active in Russia only, and any foreign exchange transactions will be unavailable to its clients.

[40] The company is also involved in innovative developments using biometrics, chat bots, and conversational artificial intelligence.

[42] Sovcombank pursues a policy of sustainable development and takes care of the social and environmental (ESG) aspects of its activities.

[43] Sovcombank participates in the United Nations Environment Program Finance Initiative (UNEP FI, since 2019), it has signed the Principles for Responsible Investment.

[44] In the same year, Sovcombank became a member of the UN Global Compact, a UN initiative aimed at promoting the social responsibility of business.

[48] Standard & Poor's affirmed the "BB" foreign currency long terms credit rating of Sovcombank on January 15, 2021, outlook was revised to "positive" from "stable".