ROMSO Cyprus Knowledge Base

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Vozrozhdenie Bank is a Soviet and Russian commercial bank, in the past one of the largest in the country. The head office was located in Moscow.

In 2021 it was absorbed by VTB Bank.

History

The bank was established in 1991 on the basis of the Moscow Regional Department of Agroprombank of the USSR.

In 1992, the Bank of Russia received a currency license, the bank became a member of the Moscow Interbank Currency Exchange. Beginning of trading of Bank shares on Russian stock exchanges.

In 1997, the ADR Bank began trading on the international stock markets.

In 2007, a millionth bank card was issued. In 2006-2007, the bank issued shares with a 3.5-4 capital multiplier, after which JPMorgan Chase and several Western funds became minority shareholders.

In October 2013, a panic arose among bank depositors in some districts of the Moscow region due to SMS mailings and calls, which reported on the imminent revocation of the bank’s license. The initiator of the information attack was not found.

In the late 2000s - early 2010s, among the possible buyers of the bank were BNP Paribas, Sergey Pugachev, Suleyman Kerimov, Vladimir Kogan, but the deal never took place because of the decision of Dmitry Orlov. After his death in December 2014, the only possible buyer was called NPF “Welfare”, which proposed to combine “Revival” with its “Absolute Bank” on a cash-free basis. At the end of May 2015, it was even approved by the board of directors of Vozrozhdenie.

In 2015, the bank was acquired by Promsvyazcapital Alexei and Dmitry Ananyev. The deal, which lasted several months, was carried out in several stages by buying shares of up to 10% of shares (which did not require approval by the Central Bank), some of the packages were “hung” on various structures, including offshores, and entrenched in friendly banks. “Revival” was bought with a small premium to market quotes, the cost of 80% of the package was about $ 200 million.

On September 15, 2017, it became known about the decision to join Vozrozhdenie to Promsvyazbank through the convening of an extraordinary general meeting of shareholders. Against this background, ordinary shares of Vozrozhdenie rose by 11.3% (up to 607 rubles per paper), preferred securities fell by 5.1% (169 rubles), shares of Promsvyazbank fell by 0.01 % (0.074 rubles). On October 27, the majority owners of both banks decided to postpone the reorganization and merger due to the turmoil in the banking market, instead they began exploring the possibility of creating a digital bank based on the Bank Vozrozhdenie.

On December 15, 2017, the Central Bank announced the reorganization of Promsvyazbank through the Banking Sector Consolidation Fund and the introduction of an interim administration, which is why PSB should reduce its stake in Vozrozhdenie to 10% within 90 days. Later, the Central Bank ordered the Ananyev brothers to sell a controlling stake in 90 days (later the term was extended until June), among the contenders for the purchase of the bank in the media indicated Alfa-Bank, VTB, Sovcombank and Uralsib.

In February 2018, information appeared about the interest in the bank from Suleiman Kerimo