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What is Russian National Commercial Bank mean?
Russian National Commercial Bank (Russian: Российский национальный коммерческий банк) is a bank operating mostly in Crimea. It has over 200 branches as of 2015, making it the most widespread bank in Crimea.
RNKB is based in Simferopol and owned by the Federal Agency for State Property Management. The bank was assigned an A rating by the Russian ACRA rating agency.
Originally a subsidiary of VTB, it was acquired by the Crimean government weeks after the peninsula was annexed by Russia. While the bank has no formal ties to the VTB Group, its establishment as a separate entity was seen as a way to avoid the effect of sanctions.
The Russian National Commercial Bank took over numerous branches of banks that retreated from Crimea following Russia's Annexation thus making it the largest banking network in Crimea.
The bank has issued over a million Mir payment cards as of April 2017. Major companies such as Visa and MasterCard are barred from issuing cards to banks with a presence in Crimea.
According to Vedomosti, in August 2017 the software company Finastra refused to sell its SWIFT interface to the bank, effectively cutting it off from SWIFT.
referencePosted on 15 Dec 2024, this text provides information on Miscellaneous in International related to International. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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