Otkritie Holding (), formerly Otkritie Financial Corporation, was a Russian private financial group. It had owned a major Russian

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

and other financial companies and investments. The company was declared bankrupt in 2022. By 2017, the group consisted of

Otkritie FC Bank PJSC "Bank Otkritie Financial Corporation" or Otkritie FC Bank (, translates as ''opening'' or ''discovery'') is one of Russia's largest full-service commercial banks. It has more than 440 offices of different formats in Russia. It was co-found ...

(66.64% as of 2017), Otkritie Capital, Otkritie Broker, Otkritie Asset Management, Arkhangelskgeoldobycha (diamond miner) and it also held minority stakes in a number of companies in their segments of the financial market: Baltic Leasing,

Qiwi QIWI plc was a Russian company that provides payment and financial services in Russia and CIS countries. The group includes QIWI payment system, QIWI Bank, CONTACT money transfer system, Factoring PLUS, Flocktory, and RealWeb. The company has r ...

, Lukoil-Garant Non-State Pension Fund, Non-State Pension Fund of the Electric Power Industry, and

RCB Bank RCB Bank (formerly Russian Commercial Bank) was an international bank founded in 1995 and headquartered in Limassol, Cyprus. Background In 1963, the London branch of the Russian Moscow Narodny Bank established a branch in Beirut for foreign tr ...

(Cyprus) which it sold in 2017.

History

The founder of the Otkritie group is Russian businessman

Vadim Belyaev Vadim Stanislavovich Belyaev (born Wolfson, 28 May 1966) is a Russian businessman, banker and investor. He is one of the founders, a major shareholder, former chief executive and board chairman of Otkritie Holding, once the largest privately held ...

, who began doing business in the early 1990s. In 1995, he was one of the initiators of the formation of the company VEO-Invest, which was engaged in investing in Russian telecommunications assets. In 2001, VEO-Invest merged with the brokerage company Otkrytie, which specialized in the trading of derivative financial instruments and provided services for access to trading in the stock section of the

Moscow Interbank Currency Exchange The Moscow Interbank Currency Exchange () or MICEX () was a stock exchange that operated in Russia from 1992 to 2011. MICEX was the leading Russian stock exchange and one of the largest universal stock exchanges in Eastern Europe. It merged with ...

(MICEX) via the Internet. As a result of the merger, VEO-Otkrytie was formed, which began to provide a wide range of services including acting as

broker dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and ...

, depository services, trust management and corporate finance management. Belyaev was the 75% owner of the merged firm. In 2004, Boris Mints became Belyaev's partner. The Investment Group Otkritie was created with Belyaev as its CEO and Mintz as the chairman of the board of directors. The changes marked the beginning of the transformation of a small brokerage firm into a financial group. As of 2016 Otkritie Holding was Russia's largest private financial group, and ranked among Russia’s 35 largest corporations according to RBC 500. In 2017, the

Central Bank of the Russian Federation The Central Bank of the Russian Federation (), commonly known as the Bank of Russia (), also called the Central Bank of Russia (CBR), is the central bank of the Russian Federation. The bank was established on 13 July 1990. It traces its beginnin ...

began the rehabilitation of Otkritie Holding's main asset, Otkritie Bank. During the related activities, Otkritie Holding lost this and almost all of its other assets. As a result, in 2020, Otkritie Holdings filed for bankruptcy Otkritie Holding was declared bankrupt in 2022. In January 2024 assets (money and property) worth over 900 billion rubles of six former managers of Otkrytie Holding were seized, including assets of ex-president

Ruben Aganbegyan Ruben Aganbegyan (; born 1972 in Novosibirsk) is a Russian economist, the President of Micex. Son of the famous Soviet economist Abel Aganbegyan. He graduated from Moscow State Law Academy. In 1990-2000s he worked in PricewaterhouseCoopers, Cl ...

and ex-chairman of the board Alexey Karakhan.

Subsidiaries

Otkrytiye bank (1992-2014)

Bank Otkrytiye, formerly Russian Development Bank (Russkiy Bank Razvitiya), was a Russian commercial bank in 1992-2014, a part of Otkrytiye Holding. In 2014, Otkritie Bank and ''Novosibirsk Municipal Bank'' were merged into the Bank of Khanty-Mansiysk and the resulting bank is named Khanty-Mansiysk Otkritie Bank.

Khanty-Mansiysk Otkritie Bank (1992-2016)

Khanty-Mansiysk Otkritie Bank, formerly Khanty-Mansiysk Bank, was a Russian commercial bank in 1992-2016, a part of Otkrytiye Holding. Otkritie Holding completed the legal takeover of Khanty-Mansiysk Otkritie Bank by

in 2016.

Owners

Otkrytiye Holding Shareholder Structure: *

(28.61%) * IFD Group — 19.9% *

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, ...

(9.99%) * ICT Holding (9.82%) *

(7.96%) *

Alexander Mamut Alexander Leonidovich Mamut (; born 29 January 1960) is a Russian-Israeli billionaire, oligarch, lawyer, banker and investor. Until 2020, he was a co-owner of Rambler Group. In June 2022, ''Forbes'' estimated Mamut's net worth at $2 billion. ...

(6.67%)

References

External links

* {{Authority control Financial services companies of Russia Financial services companies established in 1995 1995 establishments in Russia