User:Mikhail Kan/sandbox/AvtoVAZbank

AvtoVAZbank (АвтоВАЗбанк) - the first financial affiliate of AvtoVAZ, operated as such from 1988 to 1996.

History
Tolyatti-based AvtoVAZbank was established in 1988 as the financial affiliate of AvtoVAZ as well as one of the first commercial banks in Russia. Its founders were AvtoVAZ along with Vneshekonombank, Sberbank and Promstroibank. By 1995, the largest shareholders of the bank were AvtoVAZ (over 30%), KamAZ (16.4%) and LogoVAZ, a car distributor (18.6%). In the Volga region,  it controlled a quarter of the financial capital and more than a third of the banking capital. it had investments in  financial companies, oil companies, publishing companies, among others. The bank had a management school, the International Academy of Business and Banking, something unique at the time in Russia.

In late 1995, following a crisis in the loan market that severely affected it,  AvtoVAZbank almost stopped trading and started a restructuring, while the Central Bank of Russia appointed an interim management in February 1996. AvtoVAZ transferred its management school to the Tolyatti municipality and sold various assets. In mid-1996, AvtoVAZbank resumed transactions with AvtoVAZ  at a small scale. By that time, AvtoVAZ dropped AvtoVAZbank as its main financial affiliate. In 1999, the state-controlled Agency for the Restructuring of Credit Organisations (ARCO) became the main AvtoVAZbank shareholder. In May 2001, Globex, a Moscow-based banking holding,  bought out the ARCO stake. In July 2005, the AvtoVAZbank shares owned by Globex (over 90% of the company's total) came under the control of five companies owned by top managers of AvtoVAZbank. In April 2007, AvtoVAZbank decided to remove "AvtoVAZ" from its name, as it no longer had a relationship with the car manufacturer. In August 2008, AvtoVAZbank adopted the trading name Bank AVB. In July 2015, as its financial situation continued deteriorating,  the bank was taken by the government and transferred  to Promsvyazbank for restructuring. In May 2018, Bank AVB was acquired by the Central Bank of Russia.

In 2019, Bank AVB was liquidated and its assets were absorbed by the Trust Bank.