Established in 1991, International Banking Institute is a private higher-education institution located in the large metropolis of Saint Petersburg (population range of over 5,000,000 inhabitants). Officially recognized by the Ministry of Science and Higher Education of the Russian Federation, International Banking Institute (IBI) is a coeducational Russian higher education institution. International Banking Institute (IBI) offers courses and programs leading to officially recognized higher education degrees such as bachelor degrees in several areas of study. This 31 years old Russian higher-education institution has a selective admission policy based on entrance examinations. IBI also provides several academic and non-academic facilities and services to students including a library, sports facilities, study abroad and exchange programs, as well as administrative services.