History of the UniCredit Bank

History of the UniCredit BankUntil the end of 2007 UniCredit Bank worked in Russia as the International Moscow Bank (IMB).International Moscow Bank was founded in Moscow on 19 October 1989. The first Russian (then Soviet) banks, it has attracted to the formation of the capital funds of foreign banking institutions. Among its founders were three domestic banks (Vnesheconombank - 20% Savings - 10%, ICB - 10%) and five international banks (Bayerische Vereinsbank AG, Creditanstalt-Bankverein, Banka Commerciale Italiana, Credit Lyonnais and Kansallis-Osake-Pankki) , each of which belonged to 12%. In June 1994, Vnesheconombank left the IMB shareholders. Its shares were distributed equally among the two new shareholders - Vneshtorgbank and Euro Bank (France). Since the establishment of the bank set out to meet the business practices of the world's best banks, using modern banking technology and financial instruments, as well as experience of its shareholders.In 1990, the bank became a member of the international organization SWIFT (Society for Worldwide Interbank Financial Telecommunication) and took up the international accounting and other operations. In 1991, the IMB was the first Russian commercial banks received General license of the Central Bank for transactions in foreign currencies, which allowed the bank to become a leader in the field of foreign trade operations in other areas of banking. In the years to continue the successful development of the bank: new products and services, growing customer base, improved technology, expanded network of correspondents, grew staff, optimize the organizational structure. IMB is one of the largest Russian banks by total assets, a recognized authority in the field of International Settlements, an attractive partner for Russian commercial banks and corporate clients, gaining reputation as a serious and reliable bank.Traditionally conservative and balanced policy in the domestic financial market will allow the IMB to successfully overcome the financial crisis of 1998. Even in the most critical period of the bank is not delayed any payment order, continued to perform his agreement with Russian and foreign partners. Fundamental principles of policy IMB - maintaining high liquidity and a conservative approach to risk taking - were key conditions, allowed banks to meet its obligations and continue to service clients.In September 2000, the agency Thomson Financial BankWatch IMB credit rating to the highest possible value, limited only by the sovereign rating of Russia: from «CCC» to «B-». At that time it was the highest score of the assigned foreign or domestic banks operating in Russia. IMB was among the first three Russian banks whose ratings were increased after the 1998 crisis. In late 2000, Central European Journal of IMB awarded the honorary title of "Best Russian Bank of the Decade" (1989-1999).October 1, 2001 held a successful merger of the International Moscow Bank (IMB) and Bank Austria Creditanstalt (Russia), a subsidiary of Bank Austria.IMB became the assignee of the Bank Austria Creditanstalt (Russia) and to fully take care of all of its obligations to customers on safety in the accounts of cash, cash payment upon demand customer and timely completion of calculations.The merger has strengthened the position of the new bank and increase its competitiveness. To the integration of the strength of the IMB was to serve corporate customers, and Bank Austria Creditanstalt (Russia) - the provision of retail banking services. The merger appeared bank capable of providing a wide range of high quality services with the use of modern technology. The restructured bank has kept the name "International Moscow Bank". For the period of merging its capital amounted to more than U.S. $ 100 million, and the total value of assets reached U.S. $ 2.8 billion.United Bank of inherited such traditional IMB and Bank Austria Creditanstalt (Russia) features, reliability, respectability and quality of service. The merger of the customers of the combined bank appeared a number of advantages. Private clientele in addition to traditional transactions (payments, deposits) proposed a number of new credit products and asset management services. Bank expanded the range of services for card transactions and strengthened its position in the card business. Corporate customers get a wider service network, both in Moscow and St. Petersburg, and in the regions of Russia.

 Credit RatingsIn early 2002, the international rating agency Standard & Poor's has assigned the International Moscow Bank for long-term credit rating of 'B' short-term credit rating and certificates of deposit "C", "Stable" outlook. In September 2002, the long-term credit rating was upgraded to 'B'. This rating was confirmed March 28, 2003. September 2, 2003 Standard & Poor's credit rating again IMB: long term - to 'B +' short-term - up to "B". December 21, 2004 long-term credit rating was upgraded IMB agency Standard & Poor's to 'BB-'. Simultaneously were confirmed term counterparty credit and certificate of deposit rating at 'B'. Forecast - "stable". Thus, the bank has the highest position among the ratings Standard & Poor's, assigned to Russian commercial bank.Coglasno depositaries reliability rating results presented by the Foundation of Financial Research "Infrastructural Institute", in the 1st half of 2002, the IMB was a part of the reliability of AAA.In September 2004, the extraordinary shareholders' meeting of the International Moscow Bank has decided to increase the share capital by almost 3 billion.The judgment of the total share capital exceeded 9.5 billion rubles, which is equivalent to U.S. $ 320 million (according to IFRS). It was also decided to transfer the controlling interest (52.88%), one of the shareholders of IMB - HVB Group.June 12, 2005 Speaker of the Management Board of the Group HVB, Dieter Rampla and Head of the Group UniCredit, Alessandro Profumo, made a statement about the merger of banking groups they lead. Italian banking group UniCredit is one of the European banks that are highly cost effective and efficient. The group represents the interests of over 40 million customers across Europe. More than 9,000 branches of its client service. Combining HVB and UniCredit became a major step in the formation of the first European bank (The First Truly European Bank) with a strong business focus on Central and Eastern Europe, which are now part of Russia and the International Moscow Bank.June 20, 2006 Bayerische Hypo-und Vereinsbank AG reached an agreement with Nordea Bank Finland Plc to acquire an additional 26.44% packet voting shares of IMB.In December 2006, Bank Austria Creditanstalt (BA-CA) has completed the acquisition of shares (19.77%), IMB-owned VTB Bank France SA (formerly Commercial Bank for Northern Europe BCEN-Eurobank). January 11, 2007 BA-CA completed the acquisition of a controlling stake in IMB, formerly owned by Bayerische Hypo-und Vereinsbank AG (HVB). This transaction was the next step in the reorganization of the Group Unicredit within which BA-CA is responsible for business in Central and Eastern Europe.In July 2007, finalized its acquisition of Bank Austria Creditanstalt 6,822 ordinary shares and 26,533 preference shares of IMB owned Bank - 7.17 percent of the total share capital of International Moscow Bank. Thus, BA-CA has acquired 100 per cent stake in IMB.May 11, 2007 at the Annual Meeting of Shareholders of the Bank decided to start work on changing the name of the Bank and its future activities under the name UniCredit Bank (UniCredit Bank) in connection with the entry of IMB Group UniCredit. UniCredit Bank has retained all the best that is in the IMB. However, by the shareholder in the face of a major European banking group Bank will continue to expand the range of financial services, banking technology to raise the quality of services provided to customers of the Bank.December 20, 2007 International Moscow Bank (IMB) has officially changed its name to Closed Joint Stock Company "UniCredit Bank" (ZAO UniCredit Bank).taken from http://vsebanki48.ru