User:Mikhail Kan/sandbox/Lada-Credit

Lada-Credit (РН БанкЛада-Кредит) - the second and the last captive bank that had been established and controlled by AvtoVAZ (substituted AvtoVAZbank).

History
In early 1996, as AvtoVAZbank was not able to properly operate in the market, AvtoVAZ partnered with Tolyatti-based Rosestbank as its main financial backer. In late 1996, the two companies decided to create a new main financial affiliate for AvtoVAZ by using an existing dormant small bank, Moscow-based Volna, which had been established in 1994. In 1996, Volna was re-registered in Tolyatti. In 1997, it was bought out by AvtoVAZ and changed its name to CB Automotive Banking House LLC. It was renamed CJSC CB Lada-Credit in June 2009.

In June 2006, AvtoVAZ and Vneshtorgbank signed a strategic partnership agreement for the latter to manage AvtoVAZ financial flows and give it credit. In April 2008, AvtoVAZ started a similar partnership with Sberbank by which the latter promised to finance investments of AvtoVAZ, its subsidiaries and affiliates.

By 2006, AvtoVAZ started working with Novikombank. In February 2009, AvtoVAZ acquired a 20% stake in Novikombank,  and Lada-Credit became a Novikombank subsidiary in 2010. In August 2011, AvtoVAZ sold its stake to Rostec. Lada-Credit continued existing until it lost its banking licence in October 2015.