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Native name | Юникредит банк |
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Industry | Financial services |
Founded | 1989 |
Headquarters | 9, Prechistenskaya emb., Moscow, 119034, Russian Federation, , |
Key people | Kirill Zhukov-Emelyanov |
Revenue | 116,225,600,000 Russian ruble (2017)
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Number of employees | 4900 |
Parent | Bank Austria |
Rating | BB+ (S&P), BBB− (Fitch) (2017) [2] |
Website |
www |
AO UniCredit Bank, known from 1989 to 2007 as the International Moscow Bank ( Russian: Международный Московский банк, IMB), [3] is a Russian bank headquartered in Moscow. It is a wholly owned subsidiary of Milan-based UniCredit.
International Moscow Bank was founded in October 1989 and capitalized with the hard currency reserves of Vnesheconombank, with the aim that IMB may eventually replace the troubled Vnesheconombank. [4]: 55 The founding shareholders were three state-owned Soviet banks together holding 40 percent of total equity ( Vnesheconombank for 20 percent, Promstroybank for 10 percent, and Sberbank for 10 percent), and five international banks together holding 60 percent ( Bayerische Vereinsbank, Creditanstalt-Bankverein, Banca Commerciale Italiana, Credit Lyonnais, and Kansallis-Osake-Pankki). As such, IMB was the first majority-foreign-owned bank in the Soviet Union. [1]
In the 1990s and early 2000s, IMB developed lending and banking services first to larger Russian companies, then to smaller firms and retail clients. [5]
In 2001, IMB merged with the Russian subsidiary of Bank Austria. [6] By 2006, HypoVereinsbank (HVB, by then controlled by UniCredit) held around 53 percent of IMB's equity, the rest being shared between Nordea (26 percent), BCEN-Eurobank (16 percent), and the European Bank for Reconstruction and Development (EBRD, 5 percent). [7] The next year, after a series of transactions, HVB's subsidiary Bank Austria secured full ownership of IMB by acquiring the EBRD's remaining equity stake. [8] Bank Austria remained as the direct parent company of the Russian bank until September 2016, when the stake was transferred to direct ownership by UniCredit. [9]
In May 2013, the bank merged its own ATM network with the Raiffeisenbank ATM network. [10]
In 2014, the bank was registered as AO UniCredit Bank. [11]
In March 2019, UniCredit Bank topped the list of the most reliable banks in Russia according to Forbes experts, ahead of 99 other banks, including Raiffeisenbank. [12]
AO UniCredit Bank has a general banking license No. 1. The bank specializes in servicing corporate and private clients, corporate finance and treasury operations. The main focus is on lending to small and medium-sized enterprises; the retail services sector is developing less actively. As of the spring of 2011, the bank had 106 branches in Russia and a representative office in Belarus, over 985 thousand individual clients and more than 22.6 thousand corporate clients. [13]
In 2010, the bank's share in the Russian lending market was 2.18%, in the deposit market – 1.36%. [14] The number of personnel in the spring of 2011 is 3.7 thousand people. [13] Financial indicators of the bank as of December 31, 2011, following the results of 2011 in accordance with International Financial Reporting Standards (IFRS). [15]