Rossiysky Kredit (OJSC Bank Rossiysky Kredit or Roscredit) (Russian: Российский кредит или «Роскредит») was a Russian commercial bank that ceased operations on 24 July 2015, when the Central Bank of Russia withdrew the bank's license.[1][2][3]
| Industry | Banking, Financial services |
|---|---|
| Founded | 1991 |
| Headquarters | , |
Key people | Bidzina Ivanishvili, Vitaly Malkin |
Rossiysky Kredit was established as a mutual bank in 1991 by ex-Prime Minister of Georgia, billionaire Bidzina Ivanishvili and his partner, former Russian Federation Council member Vitaly Malkin.[3][4][a] By 1996, it was the seventh largest bank in Russia, as measured by assets.[8] In 1997 it was converted into a joint stock company. Because of the 1998 Russian financial crisis, Rossiysky Kredit became insolvent and lost much of its deposits.[9] Before 1999, Vasily Anisimov was on its board of directors.[10] In 1999 the bank came under the control of the Agency for Restructuring Credit Organizations (ARKO, the predecessor of the Deposit Insurance Agency of Russia). In 2003 Rossiysky Kredit emerged from restructuring and passed out of ARKO control. In 2011, Rossiysky Kredit became part of the Russian bank deposit insurance system. In 2012, Bidzina Ivanishvili sold 99.61% of shares in the bank to a group of investors headed by Anatoly Motylev.
Examinations carried out on the eve of the Central Bank's license revocation found that the bank's funds were applied in the interests of owners and related companies, and that more than half of the loan portfolio consisted of doubtful debts.[3] The State's costs arising from the bank failure was estimated at 57 Billion Rubles, making it the fifth most costly Russian bank default.[3]
In 2020, Anatoly Motylev was declared bankrupt in London, in 2022 - in Switzerland. Thus, Russian creditors received hope to get to his assets. In total, Motylev owes about 40 billion rubles, 35 of them to Rossiysky Kredit.[11]
Notes
edit- ^ From 1993 to 2015, the Morozov house at Smolensky Boulevard, 26/9, building 1 was the location of the Rossiysky Kredit Bank, Russian Credit Bank or Roscredit (Russian: банк «Российский кредит» или «Роскредит») and after Roscredit's license was revoked by the Central Bank of Russia on 24 July 2015, the Office of the Presidential Affairs managed the Morozov house. In 2017, the building became the new location of the Russian Institute for Strategic Studies (RISS or RISI or RISY) (Russian: Российский институт стратегических исследований (РИСИ))).[5][6][7]
References
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- ^ "Ъ-Новости - Центробанк подал в суд заявления о банкротстве банков "Российский кредит" и АМБ (Central Bank files bankruptcy petition against banks "Rossiysky Kredit" and AMB)". Kommersant. 9 August 2015.
- ^ "Книга памяти: "ОАО "Банк Российский Кредит"" (Memory Book: "JSC" Rossiysky Kredit Bank, The Banki.ru)". www.banki.ru. Retrieved 2016-03-23.
- ^ a b c d "Оздоровительные процедуры: рейтинг банков, на спасение которых государство потратило максимальные суммы (Ranking defaulted banks on which the government has spent the largest amounts)". Forbes Magazine Russia Edition. Retrieved 2016-03-23.
- ^ "Кто и как ушел из крупного бизнеса: "Независимая газета" подвела итоги ухода российских банкиров и других крупных бизнесменов из большого бизнеса" [Who and how left big business: Nezavisimaya Gazeta summed up the results of the departure of Russian bankers and other major businessmen from big business.]. "Банкир.Ру" (bankir.ru) (in Russian). 26 October 2005. Archived from the original on 8 August 2014. Retrieved 16 September 2024.
- ^ Пушкарская, Анна (Pushkarskaya, Anna) (1 February 2018). "Деятельность Михаила Фрадкова. Особняк Морозовых стратегически исследуют: Резиденция экс-главы СВР переедет поближе к МИДу" [Activities of Mikhail Fradkov. Morozov's mansion is being strategically explored: The residence of the former head of the Foreign Intelligence Service will move closer to the Foreign Ministry]. «Коммерсантъ» (in Russian). Archived from the original on 24 March 2022. Retrieved 25 September 2024.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ "Особняк М.К. Морозовой" [Mansion M.K. Morozova]. Узнай Москвы (www.um.mos.ru) (in Russian). June 2017. Archived from the original on 4 June 2017. Retrieved 25 September 2024.
- ^ Казарновский, Павел (Kazarnovsky, Pavel) (3 November 2020). "Суд в Британии признал беглого банкира Мотылева банкротом: Бывший владелец банка «Российский кредит» Анатолий Мотылев признан банкротом в Великобритании. Этого добился его крупнейший российский кредитор. Теперь он займется поиском активов экс-банкира по всему миру" [Court in Britain declares fugitive banker Motylev bankrupt: The former owner of the Russian Credit Bank, Anatoly Motylev, was declared bankrupt in the UK. This was achieved by his largest Russian creditor. Now he will search for the assets of the ex-banker around the world.]. «РБК» (in Russian). Archived from the original on 3 November 2020. Retrieved 25 September 2024.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ Johnson, Juliet (2000). A Fistful of Rubles: The Rise and Fall of the Russian Banking System. Cornell University Press. p. 109 – via Internet Archive.
- ^ Ippolito, Filippo (2002). "The Banking Sector Rescue in Russia" (PDF). Bank of Finland Institute for Economies in Transition. p. 8.
- ^ "Василий Анисимов: Биография" [Vasily Anisimov: Biography]. «Ведомости» (in Russian). 2010. Archived from the original on 21 September 2013. Retrieved 23 September 2024.
- ^ "Анатолия Мотылева достали в Швейцарии". kommersant.ru (in Russian). 2022-10-17.