Imperial bank (Russian: Банк «Империал») was a now-defunct private Russian bank, renowned in the 1990s for its advertising series "World History".[1][2]
Native name | Банк «Империал» |
|---|---|
Romanized name | Bank "Imperial" |
| Company type | Private |
| Industry | Banking |
| Founded | 1990 in Moscow, Russia |
| Defunct | 2004 |
| Fate | Bankrupted, License Revoked |
| Headquarters | Moscow , Russia |
Area served | Russia |
Key people | S. S. Rodionov, R. I. Vyakhirev |
| Products | Banking services |
| Subsidiaries | Bank "Slavyansky" |
History
editThe joint-stock bank "Imperial" was registered in Moscow on December 28, 1990.[3] The General License of the Central Bank of the Russian Federation for conducting banking operations in rubles and foreign currencies was granted to the bank on January 29, 1993. In the mid-1990s, the bank engaged in active commercial activities. It played a significant role in the settlement of debts of the former USSR.[4] During this period, its shareholders included Gazprom and Lukoil Oil Company. In 1995, it joined the international payment system VISA International, becoming the first bank in Russia to issue VISA plastic cards with ruble coverage.[citation needed]
By 1997, the bank's own capital was 1.359 trillion rubles, and the "Imperial" bank group included a number of enterprises and organizations from various sectors of the economy: 2 Moscow commercial banks, 4 branches (in Saint Petersburg, Kaliningrad, Perm, and Volgograd), 1 branch, 4 operational offices, and exchange offices in Moscow. There were plans to open branches of JSC "Imperial" in Novorossiysk, Astrakhan, Kirov, and other cities in Russia.[citation needed]
In 1995, after an article in the newspaper Moscow News, the Department for Economic Crimes of the Moscow Main Internal Affairs Directorate investigated the activities of the bank's head S. Rodionov, his wife, and Minister A. Fomin for embezzlement of budget funds. The case "was hushed up," and the author of the article in "Moscow News" was offered money for silence by unknown individuals.[5]
The economic crisis that erupted in 1998 dealt a severe blow to Russia's banking sector, including Bank "Imperial". On August 25, 1998, the Central Bank of the Russian Federation revoked the bank's license.
In May 1999, the bank was declared bankrupt, but the circumstances raised questions and suspicions of fraud among experts.[6]
The rapid bankruptcy of Bank "Imperial" became one of the most scandalous and mysterious cases in the modern history of Russian credit institutions.
— The End of World History[7]
In July 1999, a court made an unprecedented decision by prohibiting the Central Bank from revoking "Imperial's" license.[8]
In 2000, the bank was supported by Lukoil, and by 2004, it had restructured its debts, with shareholders selling their shares at a discount. The bank's assets were transferred to Lukoil. In 2004, Lukoil ceased to provide financial support to the bank.[9] The bank, never fully recovering from the crisis, lost its license again on January 20, 2004, "due to the bank's failure to comply with federal laws regulating banking activities, as well as the regulations of the Bank of Russia, its inability to meet creditors' demands on monetary obligations, and fulfill its obligations to pay mandatory payments".[10]
In 2017, a group of investors attempted to register a bank under the name "Imperial" once again.[9]
Leadership
editOver the years, the bank's leadership included:
- Chairman of the Board of Directors of the Bank
- 1994—1995 — R. I. Vyakhirev (from 1996, chairman of the Board of Trustees of this bank) — simultaneously served as chairman of the Board of Directors of "Gazprom".
- Chairman of the Management Board — Maxim Trokhov.
- President — Sergey Rodionov, resigned on July 6, 1998
Popular culture
editThe bank's advertising video clips, which aired over a five-year period, became a cultural event for Russian society. The 18 commercials were seen as genuine works of art. During the filming of this advertising, the talent of director Timur Bekmambetov was revealed, earning awards at festivals.[11][12][9]
References
edit- ^ "Russians named the most memorable and most annoying TV commercials". NEWSru.com. 2013-10-23. Retrieved 2013-10-26.
- ^ A similarly named "Imperial Bank" exists in Kenya, headquartered in Nairobi, but it is unrelated to the Russian bankGosteva 2017.
- ^ "Joint Stock Bank "IMPERIAL" (Open Joint Stock Company)" (in Russian). Central Bank of the Russian Federation. Archived from the original on 2016-09-24. Retrieved 2016-09-23.
- ^ Voloshin, Pavel Vladimirovich (2015-08-17). "25 years of World History with Bank Imperial". Information Agency InterRight. Archived from the original on 2022-03-23. Retrieved 2022-03-23.
- ^ Frankl 1996.
- ^ Budberg 2000.
- ^ Budberg, A. (2000-06-06). "The End of World History". Moskovsky Komsomolets. Archived from the original on 2020-05-13. Retrieved 2020-05-13.
- ^ Zhelobanov 2004.
- ^ a b c Gosteva 2017.
- ^ "Imperial" (Memory Book) (in Russian). banki.ru. Archived from the original on 2018-08-01. Retrieved 2020-05-13.
- ^ Guriev.
- ^ Parfyonov.
External links
edit- Almanac "Golden Book of Moscow Entrepreneurship. Part One", 1997, ASMO-Press.
- Bank "Imperial" Advertising : playlist. — YouTube
- Frankl, Vladimir (1996-12-18). "How Bank "Imperial" Proved Its Loyalty to Catherine the Great". New Look. Archived from the original on 2017-03-14. Retrieved 2017-01-14.
- Kozlov, Ivan (1999-06-02). "How "Imperial" Got into History". Kommersant Money. Archived from the original on 2020-05-13. Retrieved 2020-05-13.
- Budberg, Alexander (2000-06-06). "The End of World History". Moskovsky Komsomolets. Archived from the original on 2020-05-13. Retrieved 2020-05-13.
- Zhelobanov, Daniil (2004-01-26). "Bank "Imperial" Died Again". Kommersant Money. Archived from the original on 2011-04-08. Retrieved 2011-04-08.
- Gosteva, Elena (2017-04-01). "Bank "Imperial" Returns from World History". Bankir.ru. Archived from the original on 2017-04-01. Retrieved 2017-04-01.