MOSCOW: January 25, 2018. Transparency International (TI) Russia has published a first-ever study on the financial transparency of 200 Russian companies that comprise more than 70 percent of the country's national income.

TI says the companies have significant economic and political influence, yet 84 percent of them rate low in terms of transparency. Their median assessment is just 2.6 out of 10 and only 32 companies received more than five points out of 10.

The five highest-ranking companies surveyed were Magnit (7.9), Sberbank (7.9), Kazanorgsintez (7.8), Rosseti (7.5) and Nizhnekamskneftekhim (6.8).

The anti-corruption watchdog says 41 companies scored zero on all three of its assessment criteria: the availability of information about anti-corruption programs, transparency on a company's holdings, and the disclosure of key financial information on a country-by-country basis.

Commenting on the report's findings Anton Pominov, general director of TI Russia said: "Even though companies are driven to be more open in order to meet the demand of investors, public and regulators, there is still lack of commitment to openness from the companies' owners and top-management."

Pominov added that most of the companies reviewed continue to underestimate the importance of transparency and anti-corruption to their customers, investors and partners.

"On the other hand, there are a number of examples of best practice that originate from either the good will of management or the negative consequences of past mistakes," he said. "In either case, we welcome any steps taken to achieve a more transparent, responsible and sustainable business model." Report: anti-corruption.pdf