RN Bank ( rus, РН Банк) is a Moscow-based
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
established in 2013 and owned by
UniCredit Bank Russia
AO UniCredit Bank is a Russian bank headquartered in Moscow. It was a wholly owned subsidiary of Italy-based UniCredit Group.
History
ZAO International Moscow Bank (IMB) was founded on 19 October 1989. In 2005, Bank Austria along with its pare ...
(as majority holder),
RCI Banque
RCI Banque SA (), trading as Mobilize Financial Services and formerly known as RCI Bank and Services and as Renault Crédit International, is a France-based international company that is a wholly owned subsidiary of Renault. RCI Banque specialis ...
and
Nissan
, trade name, trading as Nissan Motor Corporation and often shortened to Nissan, is a Japanese multinational corporation, multinational Automotive industry, automobile manufacturer headquartered in Nishi-ku, Yokohama, Japan. The company sells ...
. It is aimed at financing car sales for the local car manufacturer
AvtoVAZ
AvtoVAZ ( rus, АвтоВАЗ, p=ɐftoˈvas) is a Russian automobile manufacturing company owned by the state. It was formerly named as VAZ ( rus, ВАЗ), an acronym for Volga Automotive Plant in Russian (russian: Во́лжский автомо ...
.
The first financial affiliate of AvtoVAZ, AvtoVAZbank ( rus, АвтоВАЗбанк), operated as such from 1988 to 1996. In 1997, AvtoVAZ replaced it with Automotive Banking House, later renamed Lada-Credit ( rus, Лада-Кредит). From the late 2000s onwards, AvtoVAZ partnerered with other banking companies for financing. RCI Banque entered into the Russian market in 2006, financing Renault and Nissan sales.
History
AvtoVAZbank
Tolyatti
Tolyatti ( rus, Толья́тти, p=tɐlʲˈjætʲ(ː)ɪ), also known as Togliatti, formerly known as Stavropol (1737–1964), is a types of inhabited localities in Russia, city in Samara Oblast, Russia. It is the largest city in Russia which doe ...
-based AvtoVAZbank was established in 1988 as the financial affiliate of AvtoVAZ as well as one of the first commercial banks in Russia. Its founders were AvtoVAZ along with
Vneshekonombank
VEB.RF, or VEB (russian: ВЭБ.РФ (ex-Vnesheconombank)), is a Russian state development corporation. It was founded in 2007 as a development institute. VEB.RF is an investment company and development institute in Russia. It has financed more t ...
,
Sberbank
PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services compan ...
and Promstroibank.
[ By 1995, the largest shareholders of the bank were AvtoVAZ (over 30%), KamAZ (16.4%) and LogoVAZ,] a car distributor (18.6%). In the Volga region, it controlled a quarter of the financial capital and more than a third of the banking capital. It had investments in financial companies, oil companies, publishing companies, among others. The bank had a management school, the International Academy of Business and Banking, something unique at the time in Russia.[
In late 1995, following a crisis in the loan market that severely affected it,] AvtoVAZbank almost stopped trading and started a restructuring, while the Central Bank of Russia
The Central Bank of the Russian Federation (CBR; ), doing business as the Bank of Russia (russian: Банк России}), is the central bank of the Russian Federation. The bank was established on July 13, 1990. The predecessor of the bank can ...
appointed an interim management in February 1996. AvtoVAZ transferred its management school to the Tolyatti municipality and sold various assets.[ In mid-1996, AvtoVAZbank resumed transactions with AvtoVAZ at a small scale. By that time, AvtoVAZ dropped AvtoVAZbank as its main financial affiliate.] In 1999, the state-controlled Agency for the Restructuring of Credit Organisations (ARCO) became the main AvtoVAZbank shareholder. In May 2001, Globex, a Moscow-based banking holding, bought out the ARCO stake. In July 2005, the AvtoVAZbank shares owned by Globex (over 90% of the company's total) came under the control of five companies owned by top managers of AvtoVAZbank. In April 2007, AvtoVAZbank decided to remove "AvtoVAZ" from its name, as it no longer had a relationship with the car manufacturer. In August 2008, AvtoVAZbank adopted the trading name
A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...
Bank AVB. In July 2015, as its financial situation continued deteriorating, the bank was taken by the government and transferred to Promsvyazbank
Promsvyazbank (PSB; rus, ПАО "Промсвязьбанк") is a state-owned, formerly private Russian bank from Moscow. It was owned by oligarchs Dmitry Ananyev and his brother Alexei Ananyev. As of 2012, it was the 10th-largest bank in Russi ...
for restructuring. In May 2018, Bank AVB was acquired by the Central Bank of Russia.
In 2019, Bank AVB was liquidated, and its assets were absorbed by the Trust Bank.[
]
Lada-Credit, Novikombank and others
In early 1996, as AvtoVAZbank was not able to properly operate in the market, AvtoVAZ partnered with Tolyatti-based Rosestbank as its main financial backer.[ In late 1996, the two companies decided to create a new main financial affiliate for AvtoVAZ by using an existing dormant small bank,][ Moscow-based Volna, which had been established in 1994. In 1996, Volna was re-registered in Tolyatti. In 1997, it was bought out by AvtoVAZ and changed its name to CB Automotive Banking House LLC. It was renamed CJSC CB Lada-Credit] in June 2009.
In June 2006, AvtoVAZ and Vneshtorgbank
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered in St. Petersburg; as of 2022 ...
signed a strategic partnership A strategic partnership (also see strategic alliance) is a relationship between two commercial enterprises, usually formalized by one or more business contracts. A strategic partnership will usually fall short of a legal partnership entity, agency, ...
agreement for the latter to manage AvtoVAZ financial flows and give it credit. In April 2008, AvtoVAZ started a similar partnership with Sberbank by which the latter promised to finance investments of AvtoVAZ, its subsidiaries and affiliates.
By 2006, AvtoVAZ started working with Novikombank. In February 2009, AvtoVAZ acquired a 20% stake in Novikombank, and Lada-Credit became a Novikombank subsidiary in 2010. In August 2011, AvtoVAZ sold its stake to Rostec
Rostec ( rus, Ростех, p=, r=Rostekh), officially the State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product Rostec (russian: Государственная корпорация по ...
.[ Lada-Credit continued existing until it lost its banking licence in October 2015.][
]
RN Bank
The Renault
Groupe Renault ( , , , also known as the Renault Group in English; legally Renault S.A.) is a French multinational automobile manufacturer established in 1899. The company produces a range of cars and vans, and in the past has manufactured ...
-owned financial company RCI Banque
RCI Banque SA (), trading as Mobilize Financial Services and formerly known as RCI Bank and Services and as Renault Crédit International, is a France-based international company that is a wholly owned subsidiary of Renault. RCI Banque specialis ...
started activities in Russia in early 2006, launching a loan programme for Nissan
, trade name, trading as Nissan Motor Corporation and often shortened to Nissan, is a Japanese multinational corporation, multinational Automotive industry, automobile manufacturer headquartered in Nishi-ku, Yokohama, Japan. The company sells ...
cars together with the International Moscow Bank
AO UniCredit Bank is a Russian bank headquartered in Moscow. It was a wholly owned subsidiary of Italy-based UniCredit Group.
History
ZAO International Moscow Bank (IMB) was founded on 19 October 1989. In 2005, Bank Austria along with its pare ...
(the present UniCredit Bank Russia
AO UniCredit Bank is a Russian bank headquartered in Moscow. It was a wholly owned subsidiary of Italy-based UniCredit Group.
History
ZAO International Moscow Bank (IMB) was founded on 19 October 1989. In 2005, Bank Austria along with its pare ...
) and Nissan's Russian subsidiary. RCI Banque, UniCredit Russia and Avtoframos
Renault Russia ( rus, Рено Россия, Reno Rossiya, rʲɪˈno rɐˈsʲijə), known until 2014 as Avtoframos ( rus, Автофрамос, Avtoframos), was a Russian automotive company established in 1998 by the Moscow city and Renault. It wa ...
also launched a program to finance Renault sales. RCI Banque established a Russian subsidiary, RN Finance Rus, in partnership with UniCredit Russia, launching the loan lines Renault Credit, Nissan Finance and Infiniti Finance.
CJSC Bank Siberia (Sibir), an Omsk
Omsk (; rus, Омск, p=omsk) is the administrative center and largest city of Omsk Oblast, Russia. It is situated in southwestern Siberia, and has a population of over 1.1 million. Omsk is the third largest city in Siberia after Novosibirsk ...
-based bank, was established in 1989. In 2005, it became a wholly owned subsidiary of ATFBank, a Kazakhstani bank. In September 2011, it was acquired by UniCredit Russia. By 2012, plans for turning Sibir into the financial affiliate for Renault and Nissan in Russia were being discussed. In May 2013, Sibir changed its registered address to Moscow.[ On 5 September 2013, Sibir was re-registered as RN Bank. RN Bank ownership was transferred to the Dutch-registered holding Barn BV whose ownership was in turn split up into two entities: 40% UniCredit and 60% RN SF Holding BV (a holding equally owned by RCI Banque and Nissan).] In March 2018, UniCredit transferred its stake to its subsidiary, UniCredit Russia.[ In November 2022, plans for AvtoVAZ acquiring all the Barn BV stake were announced, as UniCredit was reducing its Russian activities and considering to leave the Russian market completely.
]
Operations
RN Bank provides auto loan
Auto may refer to:
* An automaton
* An automobile
* An autonomous car
* An automatic transmission
* An auto rickshaw
* Short for automatic
* Auto (art), a form of Portuguese dramatic play
* ''Auto'' (film), 2007 Tamil comedy film
* Auto (play), ...
s for the purchase of AvtoVAZ cars in Russia and financing for its dealerships, as well as related financial services. , one-third of the Alliance car sales in Russia were being financed by RN Bank.
References
External links
Official website
(in Russian)
{{Authority control
Banks established in 2013
2013 establishments in Russia
Banks of Russia
Companies based in Moscow
UniCredit Group
Nissan
Renault