AVB Bank

 AVB Bank (AVTOVAZBANK JSC) is a former Russian universal bank with its headquarters in Moscow.Togliatti, founded in 1988.

In 2015, it was transferred for rehabilitation Promsvyazbank. Liquidated on March 7, 2019 by joining TRUST Bank.

History

Created on the initiative of the Volga Association for the production of passenger cars "AvtoVAZ", which was owned byMinistry of Automotive Industry of the USSR, registered State Bank of the USSR in November 1988. Its founders were the following companies:"AvtoVAZ",Vnesheconombank, Sberbank andPromstroybank of the USSR. Until 1991, the bank's founders were only state institutions (about 100 organizations and enterprises). More than 5% of the authorized capital was owned by: PA "AvtoVAZ", PA "KAMAZ", Promstroybank, Vnesheconombank, Gosstrakh SSSR, Sberbank of Russia, Ingosstrakh Insurance Company USSR, Inter-Volga JSC, Avtobank Automobile Industry Development Bank and Ministry of Finance of the USSR. The first president of the bank was Pyotr Nakhmanovich.

After the collapse of the USSR, state institutions were privatized into a joint-stockcompany, and control over state assets was partially transferred to their successors.

In 1991, on the initiative of the bank, an educational institution was established Togliatti Academy of Management.

In August 1994, a subsidiary of CJSC "National Credit Cards" (payment system NCC (National Credit Cards))was established.

In 1995, during the crisis in the interbank loan market, the bank introduced external management. In 1998, the company joined the rehabilitation process Credit Institution Restructuring Agency (ARCO), which became the main shareholder of the bank. In May 2001, ARKO's stake was purchased by Moskovsky bank "Globex, but in 2005 93.42% of the shares owned by Globex passed under the control of five companies owned by top managers of Avtovazbank.

In October 2000, a subsidiary leasing company "Versus"was established.

In July 2017, it was transferred for rehabilitation to Promsvyazbank, which also introduced a temporary administration in December 2017. Later it was under the management of LLC " UKThe Banking Sector Consolidation Fund". At the same time, plans were announced to transfer its "bad assets" to the bank of bad debts, created on the basis of "TRUST".

On March 7, 2019, PJSC Bank TRUST was finally absorbed.

Owners and management

After privatization, the bank had more than 18 thousand shareholders.

In 2007, the chairman of the supervisory Board of the bank was the former vice-president of JSC AvtoVAZ, one of the shareholders of JSC JSCB Zemsky Bank, Vladimir Kuchay. After that, until 2015, a representative of an external group of shareholders, Nikolai Taran, took his place.

Until August 2015, the key beneficiaries were top managers of the credit institution Elena Kazymova, Nikolay Taran and Vera Prokopenko, who directly and through four limited liability companies — Promtekhstate, July, Average and RTK — owned 31% of the shareseach. They also acquired and at various times owned the cable and wire products and copper wire rod enterprise JSC Rosskat, the former Ryazan bank LLC RIKB Rinvestbank and the construction management company Samara CJSC Management Company El-Trust. The Board of Directors consisted ofIgor Bogdanov - President of the Togliatti Academy of Management. Until May 2011, the bank's board of directors also included a cousin of the then Prime Minister of the Russian Federation, Igor Putin.

In 2015, during the rehabilitation process, the bank came under the control of Promsvyazbank, which received ownership of 97.3 % of the shares.[22] The share of 1.8 % belonged to JSC " AK "Transneft, controlled by Rosimushchestvo[23]. Subsequently, Promsvyazbank's share in the capital was increased to 100 %.

Since May 2018, the Bank of Russia has become the owner of 100 % of Avtovazbank shares. Branches and branches of the bank were transferred to Promsvyazbank.

Legal action

In 2006, AVB Bank started investing in the construction of the residential complex "City of Peace" in Samara. In 2009, the bank filed a claim against the developer in the arbitration court for non-repayment of the loan debt in the amount of 710 million rubles. In the course of numerous and lengthy proceedings, a settlement agreement was signed in February 2012.

In 2018, as a result of loan commitments, the bank took over the Krasnaya Zarya confectionery factory in the city Ivanovo. The new Moscow management of the bank did not want to carry out financial recovery and restoration of its production activities, the factory's property was sawn and sold.