Russian National Commercial Bank (Russian: Российский национальный коммерческий банк; Ukrainian: Російський національний комерційний банк; Crimean Tatar: Русие миллий тиджарет банкы) is a bank operating mostly in Crimea. It has over 200 branches as of 2015,[2] making it the most widespread bank in Crimea.[3]
 | |
Native name | Российский национальный коммерческий банк |
|---|---|
| Company type | Public Joint Stock Company |
| Industry | Banking |
| Founded | January 25, 1991 |
| Headquarters | , |
| Total assets | 127,706,874,000 Russian ruble (2017)  |
| Total equity | RUB 21.8 billion[1] (2017) |
| Owner | VTB Bank |
| Website | www |
RNKB is based in Simferopol and owned by the Federal Agency for State Property Management.[4] The bank was assigned an A rating by the Russian ACRA rating agency.[5]
Originally a subsidiary of VTB, it was acquired by the Crimean government weeks after the peninsula was annexed by Russia. While the bank has no formal ties to the VTB Group, its establishment as a separate entity was seen as a way to avoid the effect of sanctions.[6]
The Russian National Commercial Bank took over numerous branches of banks that retreated from Crimea following Russia's Annexation thus making it the largest banking network in Crimea.[7]
The bank has issued over a million Mir payment cards as of April 2017.[8] Major companies such as Visa and MasterCard are barred from issuing cards to banks with a presence in Crimea.[9]
According to Vedomosti, in August 2017 the software company Finastra refused to sell its SWIFT interface to the bank, effectively cutting it off from SWIFT.[10]
Sanctions
editBecause of Russian interference in Ukraine and its annexation of Crimea, the Russian National Commercial Bank is under sanctions by the European Union since July 30, 2014, Liechtenstein since July 31, 2014, Canada since August 6, 2014, Switzerland since August 27, 2014, Australia since September 2, 2014, and the United States since March 11, 2015.[7][11][12]
Sanctioned by New Zealand.[13]
References
edit- ^ "Справочник по кредитным организациям". Cbr.ru. Retrieved 11 May 2017.
- ^ "Crimean Government Cashes in on Rags-to-Riches Bank Sale". Moscow Times. Retrieved 7 May 2017.
- ^ "Getting around Crimea: Advice you won't find in guidebooks". RBTH. Retrieved 11 May 2017.
- ^ "О банке". РНКБ (in Russian). Archived from the original on 13 June 2014. Retrieved 8 May 2017.
- ^ "ACRA assigns А(RU) to the Russian National Commercial Bank (public joint-stock company), outlook Stable" (PDF). ACRA. Retrieved 8 May 2017.
- ^ "Guest post: how did Russia's RNCB avoid Ukraine-related sanctions for so long?". Financial Times. Retrieved 8 May 2017.
- ^ a b "Treasury Announces New Designations of Ukrainian Separatists and their Russian Supporters: Action Targets Eight Ukrainian Separatists, a Russian Pro-Separatist Organization and Three of its Leaders, a Crimean Bank, and Three Former Yanukovych Officials". treasury.gov. 11 March 2015.
- ^ ""Мировые" лидеры". Банки.ру. Retrieved 11 May 2017.
- ^ "Visa, MasterCard stop supporting bank cards in Crimea". Reuters. 26 December 2016. Retrieved 11 May 2017.
- ^ "Крупнейший банк в Крыму остался без американского софта". Vedomosti. 24 August 2017. Retrieved 29 August 2017.
- ^ "Side-by-Side List of Sanctioned Russian and Ukrainian/Crimean Entities and Individuals" (PDF). Bryan Cave. December 22, 2014. Retrieved April 26, 2018.
- ^ "U.S. slaps sanctions on Ukrainian rebels, Russian bank". Reuters. March 11, 2015. Retrieved May 23, 2018.
- ^ "Russia Sanctions Regulations 2022". Retrieved 11 February 2023.
