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Soyuz bank

Союз  
Name Soyuz
Full name Joint Stock Commercial bank "Soyuz"
Licence 2307 | Summary on the Central Bank of Russia Site

Ranking

on 01.10.2017 г.
Net assets 89 565 860 RUR, tnd, 71st place in Russia, 52nd place in regions
Net profit 927 006 RUR, tnd, 58th place in Russia, 44th place in regions
All indicators
Headquarter
127055, Moscow, ul. Suchovskaya, 27, str. 1
URL www.banksoyuz.ru
Banki.ru reference

Established in 1993 as Alina-Moskva, the bank was a small financial institution until 1999. At that time the bank was bought by Ingosstrakh, one of the leading insurance companies in Russia, and renamed Ingosstrakh-Soyuz. In 2001 investment group Basic Element, owned by Russian billionaire Oleg Deripaska, gained control over Ingosstrakh and its subsidiaries, becoming the bank’s majority shareholder.

At a later time Basic Element decided to unite its modest banking assets on the basis of Ingosstrakh-Soyuz. At the end of 2003 Ingosstrakh-Soyuz successfully merged with three banks controlled by Basic Element (Avtogazbank (Nizhny Novgorod), Sibregionbank (Irkutsk) and Narodny Savings Bank (Moscow)). The new merged bank was named Bank Soyuz.

In September 2008 the lending institution’s financial standing was substantially impaired by the crisis on the repurchase market where Bank Soyuz was an aggressive player, and also due to heavy investments in development projects. In September-October households withdrew nearly half of all the bank’s deposits (deposits declined from Rub 11 bln to Rub 6.1 bln). In September 2008 businesses took back Rub 6.1 bln and in October corporate clients’ settlement accounts slid 46% from Rub 16.9 bln to Rub 9.2 bln, and deposits dropped 11% to Rub 29.8 bln. As a result, in late December 2008 an agreement on Bank Soyuz’s rehabilitation was signed between the Deposit Insurance Agency (DIA), Bank Soyuz, holding Finansresurs (the bank’s major shareholder, 81% of which was directly owned by Oleg Deripaska) and Gazfinance (a 100% subsidiary of Gazpromregiongaz, part of Gazprom Group). However, 49.99% of the lender’s shares returned to the previous owner, Ingosstrakh, in March 2010. And DIA retained a 50% + 1 share interest. It should be noted that a year earlier the seat of the lending institution’s management board chairman was occupied by former Greenfieldbank executive Andrei Khandruev, the son of well-known banker and scientist Alexander Khandruev.

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