Donau Bank AG was a bank in
Vienna
Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...
,
Austria
Austria, formally the Republic of Austria, is a landlocked country in Central Europe, lying in the Eastern Alps. It is a federation of nine Federal states of Austria, states, of which the capital Vienna is the List of largest cities in Aust ...
controlled by the
Soviet Union
The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...
and later, after the dissolution of the Soviet Union, by
Russia
Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...
.
On 30 May 2001, Donau Bank was acquired by
Russia
Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...
n
VTB Bank
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, ...
, which was headed by
Yury Ponomarev. In 2006 the name was changed to VTB Bank (Austria) AG. With $1 billion in capital in March 2011, VTB Bank (Austria) AG, based in Vienna, was the largest European commercial bank of the Russian VTB Bank.
On December 29, 2017, VTB Group completed restructuring its European operations. VTB Bank (Austria) AG, VTB Bank (Deutschland) AG und VTB Bank (France) SA, were merged into the newly created VTB Bank (Europe) SE (Frankfurt), which operates under a single banking license. Since that restructuring, VTB Bank (Europe) SE has the branch in Austria.
History
*1974 - Donau Bank AG is jointly founded in Vienna by the
USSR State Bank and the
Foreign Trade Bank of the USSR
The Foreign Trade Bank of the USSR (, abbreviated Внешторгбанк, Latinized Vneshtorgbank) was the monopoly state credit institution for trade finance in the Soviet Union. It was initially established in 1922 as the Russian Commercial Ba ...
.
*1987 to 20 November 1990 - Donau Bank AG is headed by
Andrey Akimov.
From 1989 to 1991,
Alexander Ivanovich Medvedev () was a director at Donau Bank and was the managing director of the Donau Bank's subsidiary "Inter Trade Consult GmbH" (Austria).
It allegedly serviced very large debts of Bulgaria and, which the Austrian
Die Presse
(, ) is a German-language daily broadsheet newspaper based in Vienna, Austria. It is considered a newspaper of record for Austria.
History and profile
was first printed on 3 July 1848 as a liberal (libertarian)-bourgeois newspaper within the ...
wrote at the time, was "adherence to an overly expansive business strategy."
[ In the spring of 1990, Bulgaria declared a moratorium on servicing its external debt.][
*1990 - SOVLINK-American Corporation (), which specialized in the oil industry, closely cooperated with TNK and was owned by CB Alba Alliance LLC (), was established in New York by the American consulting firm ]Salomon Brothers
Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five List of investment banks, largest investment banking enterprises in the United States and a very profitabl ...
, Sedgwick, Phibra Energy, plus the Soviet foreign Donau Bank and the state-owned Russian foreign economic association SovFinTrade ().
*1992 - The Central Bank of the Russian Federation acquires 99.97% of the bank, the remaining 0.03% is retained by the Foreign Trade Bank of the USSR
The Foreign Trade Bank of the USSR (, abbreviated Внешторгбанк, Latinized Vneshtorgbank) was the monopoly state credit institution for trade finance in the Soviet Union. It was initially established in 1922 as the Russian Commercial Ba ...
(Vneshtorgbank).
*1997 - VTB
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, o ...
acquires a 51% majority share in Donau Bank AG.
*2005 - VTB
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, o ...
acquires 100% interest in Donau Bank AG.
*2006 - In the context of VTB’s international rebranding program, Donau Bank AG is renamed VTB Bank (Austria) AG.
*2007 - VTB Bank (Deutschland) AG and VTB Bank (France) SA are placed under VTB Bank (Austria) AG and together form a subgroup of the VTB Group.
*2011 - Launch of VTB Direct Bank in Germany
*2017 - 2018: VTB Bank (Austria) AG, VTB Bank (Deutschland) AG und VTB Bank (France) SA, were merged into the newly created VTB Bank (Europe) SE (Frankfurt), which operates under a single banking license. Since that restructuring, VTB Bank (Europe) SE has the branch in Austria.
Management board
Donau Bank AG (VTB Bank (Austria) AG) had the following management board members:
* Valery P. Ipatoo
* Oleg M. Preksin
* Dkfm Otto Dracka
* Andrei Tchetyrkine
* Vladimir G. Malinin Chairman of the Board from December 1990 to April 1996[
* Evgenij Minkin
* Igor Strehl (CEO)
* Alexey Krokhin (CEO)]
See also
* Banking in the Soviet Union The Soviet Union was the first jurisdiction to implement a single-tier banking system, an experience that was subsequently emulated by a number of Communist states.
Historical and ideological background
The notion of a monopolistic state financia ...
Notes
References
See also
{{Portal, Banks
* Foreign trade of the Soviet Union
Soviet foreign trade played only a minor role in the Soviet economy. In 1985, for example, exports and imports each accounted for only 4 percent of the Soviet gross national product. The Soviet Union maintained this low level because it could dra ...
Banks of Austria
Banks of the Soviet Union
Companies based in Vienna
Austria–Soviet Union relations