Russian National Commercial Bank

Russian National Commercial Bank
Native name
Российский национальный коммерческий банк
Company typePublic Joint Stock Company
IndustryBanking
FoundedJanuary 25, 1991 (1991-01-25)
Headquarters,
Total assets127,706,874,000 Russian ruble (2017) Edit this on Wikidata
Total equityRUB 21.8 billion[1] (2017)
OwnerVTB Bank
Websitewww.rncb.ru

Russian National Commercial Bank (Russian: Российский национальный коммерческий банк) 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]

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]

  1. ^ "Справочник по кредитным организациям". Cbr.ru. Retrieved 11 May 2017.
  2. ^ "Crimean Government Cashes in on Rags-to-Riches Bank Sale". Moscow Times. Retrieved 7 May 2017.
  3. ^ "Getting around Crimea: Advice you won't find in guidebooks". RBTH. Retrieved 11 May 2017.
  4. ^ "О банке". РНКБ (in Russian). Archived from the original on 13 June 2014. Retrieved 8 May 2017.
  5. ^ "ACRA assigns А(RU) to the Russian National Commercial Bank (public joint-stock company), outlook Stable" (PDF). ACRA. Retrieved 8 May 2017.
  6. ^ "Guest post: how did Russia's RNCB avoid Ukraine-related sanctions for so long?". Financial Times. Retrieved 8 May 2017.
  7. ^ "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.
  8. ^ ""Мировые" лидеры". Банки.ру. Retrieved 11 May 2017.
  9. ^ "Visa, MasterCard stop supporting bank cards in Crimea". Reuters. 26 December 2016. Retrieved 11 May 2017.
  10. ^ "Крупнейший банк в Крыму остался без американского софта". Vedomosti. 24 August 2017. Retrieved 29 August 2017.

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