Russian Standard Bank

Russian Standard Bank
Native name
 Банк Русский Стандарт
Joint-stock company
Industry Financial services
Founded 1999 (1999)
Headquarters Moscow, Russia
Key people
 Roustam Tariko (Chairman of the Board of Directors)
Rating Caa2 (Moody's) (2015)[1]
Website www.rsb.ru

Russian Standard Bank (Russian: АО «Банк Русский Стандарт») is one of the largest Russian banks[2] and the country's leading consumer lender.[3]

History

The bank was founded in 1999 by Roustam Tariko owner of the Russian Standard Corporation, as a means of circumventing new laws which banned the advertising of alcohol in Russia.[4] It dominates the consumer finance sector in Russia, and has over 54 percent control of the credit card market and over 30 percent control of the point of sale loan market. It is ranked among the best-profit-on-capital financial institutions in the world. The bank employs 25,000 people across its organization.[5]

Russian Standard Bank has a presence in more than 1,800 cities in Russia.[5] Its distribution network covers 93% of the Russian population. Russian Standard Bank is also the exclusive issuer of American Express branded credit cards in Russia.[5]

Russian Standard Bank issues cards of five leading international payment systems in Russia: Visa, MasterCard, American Express, Diners Club International, Discover Card, and acquires seven payment systems: Visa, MasterCard, American Express, Diners Club International, Discover Card, China Union Pay, Japan Credit Bureau and Zolotaya Korona.[6]

On December 2010 Russian Standard Bank and the international payment system Diners Club International have entered into an agreement for settlement transactions of the payment system in the Russian Federation. Under the Agreement, Russian Standard Bank will process settlement transactions of other banks acting as acquirers of Diners Club in the Russian Federation.[7]

In 2013, the Bank’s portfolio of card brands was enriched with a partnership with Discover Financial, offering one of the most popular credit cards among American consumers – Discover cards – in Russian market.[8]

In July 2014, Russian Standard Bank, Miles & More and Visa announced the signing of a long-term agreement. Within the agreement the Bank becomes a partner to promote co-branding Miles & More card products in Russia based on Visa payment system.[9]

The bank defaulted on its debts in 2015.[10][11]

References

  1. ↑ "Moody's confirms Russian Standard Bank's ratings of Caa2; outlook negative". Moodys.com. 6 November 2015. Archived from the original on 28 August 2017. Retrieved 1 May 2017.
  2. ↑ Russian Standard Bank Archived 2010-12-16 at the Wayback Machine.
  3. ↑ Russian Standard bank buys back $120 mln of bonds Archived 2016-07-10 at the Wayback Machine.
  4. ↑ "Archived copy". Archived from the original on 2012-03-15. Retrieved 2012-01-27.
  5. 1 2 3 Banking Archived 2010-04-01 at the Wayback Machine.
  6. ↑ The Central Bank of the Russian Federation Archived 2013-12-07 at the Wayback Machine.
  7. ↑ DINERS CLUB INTERNATIONAL CHOOSES JSC RUSSIAN STANDARD BANK AS THE CORE SETTLEMENT BANK OF DINERS CLUB RUSSIA® FOR OPERATIONS IN RUSSIA Archived 2015-05-20 at the Wayback Machine.
  8. ↑ Discover Financial Services and Russian Standard Bank Announce Discover Card Issuance in Russia Archived 2016-07-10 at the Wayback Machine.
  9. ↑ Russian Standard Bank partners with Visa to offer co-branded travel rewards card Archived 2014-10-06 at the Wayback Machine.
  10. ↑ "BRIEF-Russian Standard announces restructuring of eurobonds due 2020 and 2024". Reuters. 22 October 2017. Archived from the original on 28 August 2017. Retrieved 1 May 2017.
  11. ↑ "Vodka Billionaire Bank Bonds at Risk on Russia Consumer Distress". Bloomberg.com. 2 September 2015. Archived from the original on 10 July 2016. Retrieved 1 May 2017.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.