Evrofinance Mosnarbank
| Open Joint Stock Company | |
| Industry | Banking |
| Headquarters | Moscow, Russia |
Key people | Sergey N. Yarosh (President – Chairman of the Executive Board) |
| Products | Financial Services |
| Total assets | RUB 54,342 billion (2013 unaudited) |
| Website | www.evrofinance.ru |
OJSC EVROFINANCE MOSNARBANK is one of the biggest Russian commercial banks. Full name of the Bank: Open Joint-Stock Company EVROFINANCE MOSNARBANK. Head office locates in Moscow. General License No. 2402 of Bank of Russia.
History
OJSC Evrofinance was founded in 1993 in Moscow through reorganization of the finance company Evrofinance which was among the first joint companies with foreign capital in Russia, registered in December, 1990. The founders were the Northern Europe Commercial Bank (Eurobank), Paris (French Russian foreign bank) and the state corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank).
CB Mosnarbank CJSC was founded in 1995 in Moscow as totally subsidiary of Moscow Narodny Bank, London. (English Russian foreign bank). Its history began in 1911 when Moscow Narodny Bank was established in the capital of Russia and later incorporated in British bank system.
Mergers and Acquisitions
In December, 2003 JSCB EVROFINANCE MOSNARBANK was created by merger of the CB Mosnarbank with the JSCB Evrofinance. The merger of Mosnarbank and Evrofinance was quite effortless because both banks had been founded as the subsidiaries of the biggest Russian foreign banks, thus, they had common missions. In 2011 the Venezuelan government bought a minority stake in the bank.[1]
| 1911 Moscow Narodny Bank (Moscow) | |||||||||||||||||||||||||||||
| 1915 Moscow Narodny Bank (London) | |||||||||||||||||||||||||||||
| 1919 Moscow Narodny Bank Limited | |||||||||||||||||||||||||||||
| 1995 Mosnarbank | 1993 Evrofinance | ||||||||||||||||||||||||||||
| 2003 Evrofinance Mosnarbank | 2005 VTB Capital (UK) | ||||||||||||||||||||||||||||
Ownership
The shareholders: 49.99%FONDEN, S.A., 25.005%VTB Group, 25.000%Gazprombank Group.[2]
Activity
The Bank’s historical mission consists in the management of the export-import operations between Russia and the foreign countries. Nowadays, the OJSC EVROFINANCE MOSNARBANK offers all basic services and operations for corporate clients and individuals, including the settlement and credit services for the Russian foreign trade enterprises.
OJSC EVROFINANCE MOSNARBANK’s service network includes branches and representatives in different cities, such as Moscow, St. Petersburg, Vladimir, Krasnoyarsk, Nizhny Novgorod, Rostov-on-Don, Stavropol, Yaroslavl, Pyatigorsk, Nevinnomyssk, Samara, Volgograd, Tolyatti, Tver, Voronezh, Chelyabinsk.
International Recognition
Standard & Poor’s – Evrofinance was recognized as The Most Profitable Bank among 100 CEE Banking Institutions in 2001.
The Banker – in 2005 Evrofinance was included in Top 1000 World Banks rating
EUROMONEY – in 2007 Evrofinance was recognized as Leader in Corporate Management among CEE Banks; in 2009 — The Best Russian Bank in Risk Management.
International Ratings
Fitch Ratings – Long term Rating В, Short Term rating В (as of 01.01.2010) Moody’s Investors Service – Long term Rating Ba3, Short Term rating В
National Ratings
Moody’s Interfax Rating Agency – Long Term “Аа3(Rus)”, Short Term “Rus-1”
References
- Bank’s Website
- Central Bank of the Russian Federation
- VTB Bank
- Gazprombank
- The National Development Foundation (FONDEN, S.A.)
- Deloite
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