Central Bank of Russia only just beginning to discuss privatization of NCPS, will conduct market valuation of company - governor

ST. PETERSBURG. July 2 (Interfax) - The Central Bank of Russia has only just begun a discussion with banks about the partial privatization of the National Card Payment System (NCPS, the operator of Mir cards), and will conduct a market valuation of the company, Central Bank Governor Elvira Nabiullina said during a press conference as part of the CBR's Financial Congress.

The Central Bank of Russia published a report at the end of September 2025 in which it said it would assess the possibility and mechanisms for transferring a number of NCPS services to private sector management. Among possible scenarios, the sale of a minority stake or a spin-off of a number of services were considered.

"Discussions have now only just begun, in fact. We have a requirement established by legislation that currently allows us to sell a stake in the market, but in such a way that we retain more than 50% plus one share and no more than 5% in one hand. This is also correct, because this is an infrastructure company, and it is important that there is no concentration of these stakes if private investors participate in it," Nabiullina said.

"We are going to conduct a market valuation of the NCPS so that potential participants also understand how much a stake in these shares may cost, how they can participate in such a possible investment in the NCPS; we are in the process of discussion," she said.

The National Payment Card System was created by the Russian authorities in 2014 after a number of sanctions were imposed against Russia. The NPCS announced the start of issuing the first Mir cards in December 2015. It also processes transactions on cards of the international payment systems Visa and Mastercard, which simultaneously announced the suspension of operations in the Russian market due to the conflict in Ukraine in March 2022. The sole shareholder of the NPCS is the Central Bank of Russia.