Russian commercial bank

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The Russian Commercial Bank ( Russian Рускомбанк / Ruskombank ) was the first international bank set up in the Russian Soviet Republic to allow all common banking transactions, including foreign exchange and precious metals.

After the state bank was reorganized in the course of the New Economic Policy (NEP) under Grigory Sokolnikov , People's Commissar for Finance, and a stable currency was introduced with the Chervonetz , the Russian Commercial Bank with a capital of 10 million was established in Moscow in autumn 1922 for foreign business Gold Rubles ($ 5.1 million) founded. The former head of the Siberian Bank in Petrograd , Tarnowski, was appointed president and the Swedish banker Olof Aschberg chairman of the board. The latter had also opened trading offices in Berlin and Copenhagen in 1920 to handle Russian financial transactions , of which the one in Berlin was now converted into the guarantee and credit bank for the East , which also took over the representation of the Russian Handelsbank in Germany. She was also a representative of the Russian State Bank and was supposed to take on up to 80% of an international workers loan, which was not done to a large extent because of the sometimes negative effects of the planned propaganda effect.

As a result of obtaining approval in December 1923 to open an export bank , the People's Commissariat for Foreign Trade proposed that the Russian Commercial Bank be converted into a special foreign trade bank. This happened on April 7, 1924, it became the Foreign Trade Bank of the USSR (Wneschtorgbank), from which in 1988 the Wneschekonombank emerged .

literature

  • Babette Gross: Willi Munzenberg. A political biography. Stuttgart 1967, p. 143
  • Manfred Pohl : The financing of the Russian business between the two world wars. The development of the 12 large Russian consortia. Fritz Knapp Verlag, Frankfurt am Main 1975, p. 10, ISBN 3-7819-0164-5

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