The Agricultural Bank of the USSR (), commonly referred to as Selkhozbank (), was a significant component of the
Soviet banking system from its establishment in 1932 to 1959, when it was merged with
Prombank and
Tsekombank to form the
Construction Bank of the USSR, known as Stroybank.
Overview
The bank was first established in 1932 as the "Bank for Financing Socialist Agriculture" (), and renamed as Agricultural Bank in August 1933 (full name in Russian: Банк финансирования социалистического сельского хозяйства). Like the Tsekombank in residential construction, the Selkhozbank was a mere conduit for budgetary appropriations and had no autonomy in its credit allocation.
See also
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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
Defunct banks of the Soviet Union
Banks established in 1925
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