Evrofinance Mosnarbank Moscow, (General Licence # 2402 issued by the Bank of Russia) was established at the end of 2003 as a result of a merger of Evrofinance Bank and CB ‘Mosnarbank’. Such amalgamation was a natural development due to the fact that Bank Evrofinance and CB’Mosnarbank’ were incorporated as subsidiaries of major Russian owned banks based abroad and had common missions and business objectives.
Established in 1993 by reorganization of a financial company of the same name (incorporated in 1990 as one of the first foreign-owned entities in Russia, Licence # 2 issued by the State Bank of the USSR on 10 December 1990). Its founding members were the Paris-based Russian-owned Banque Commerciale pour l’Europe du Nord – EUROBANK (BCEN-EUROBANK) and USSR Vnesheconombank, Moscow (the agent of the Russian Government on management of the USSR foreign debts and assets).
Established in 1995 as a wholly-owned subsidiary of the London-based Russian-owned Moscow Narodny Bank Ltd.
At present, the shareholders in Evrofinance Mosnarbank include leading Russian financial institutions and FONDO DE DESARROLLO NACIONAL, FONDEN S.A..
Over a number of years Evrofinance Mosnarbank has been one of the largest Russian banks ranked by total assets and shareholders’ equity. It is also one of the most profitable and reliable domestic credit institutions. Relying on the financial results of the year 2001, Standard & Poor’s ranked Evrofinance Bank as the most profitable bank among the top-100 banks of Central and Eastern Europe.
Being a versatile credit institution, Evrofinance Mosnarbank holds all licences required for effecting any banking operations permitted by Russian law.
Branch network of Evrofinance Mosnarbank consists of branches and remote offices in Moscow, Yaroslavl, Beijing(PRC) and Caracas (Bolivarian Republic of Venezuela).
As of the end of 2003 the Bank had correspondent relations with more than 500 Russian and overseas banks. This extensive correspondent network enables it to effect settlements in all world key currencies (as well as in clearing dollars used by Russian companies for settlements with India and China) swiftly and efficiently.