B&N Bank

Founded in 1993, B&N Bank has the general license of the Bank of Russia No. 2562.[4] In November 2008, the Bank entered the capital of Bashinvestbank, and in December 2013 Bashinvestbank was integrated with B&N Bank as its branch in Ufa.

In April 2014 B&N Bank became the owner of Moscomprivatbank, a former subsidiary of Ukrainian PrivatBank. The deal was concluded as the part of B&N Bank’s strategy for retail business expansion and approved by Banking Supervision Committee of the Bank of Russia. Due to high social importance of Moskomprivatbank, Deposit Insurance Agency (DIA) provided assistance to B&N Bank in a form of RUB 12bn loan. The loan proceeds will be used for maintenance of Moskomprivatbank’s liquidity and implementation of the project related to creation of independent IT-infrastructure of the credit institution.

In July 2014, B&N Bank successfully closed the acquisition of DNB Russia. “Asokerco Trading Limited” LLC (an entity affiliated with B&N Bank (JSC) owned by Mikail Shishkhanov) has become the owner of JSC Commercial Bank DNB Bank (“DNB Russia”) located in Murmansk.[5] Previously, DNB Russia was a fully owned subsidiary of DNB Bank ASA (“DNB”), the leading Norwegian financial group.

In December 2014 B&N Bank closed the acquisition of five banks of the Rost Group. The deal is a part of financial recovery of Rost Bank, Kedr Bank, Akkobank, SKA-Bank and Tveruniversalbank. The purpose of acquisition of the Rost Group banks is to expand the retail business, regional presence and client base of B&N Bank. The total amount of retail deposits attracted by five banks is RUB 70 billion; the total branch network consists of more than 240 offices and ATM network of more than 440 devices.[6]

In January 2015, B&N Bank acquired Uralprivatbank.[7] The transaction was completed in February 2015. The purpose of the acquisition for B&N Bank is to expand its retail business and regional presence. Uralprivatbank is a sustainable regional bank which has been operating in the market for over 25 years. The bank has four offices in Ekaterinburg.

In June 2015 the shareholders of B&N Bank, Mikail Shishkhanov and Mikhail Gutseriev, entered into an agreement to acquire a controlling shareholding (58.33%) in MDM Bank from Sergei Popov. Within the framework of the transaction, 100% of the shares of MDM Bank have been valued by the parties at approximately the level of the bank's equity.[8]

In February 2015, Banki.ru portal recognized B&N Bank as the Bank of the Year.[9] In July 2015, B&N Bank announced the acquisition of the Russian leading autoleasing company Europlan, and in July 2015[10] the Bank announced the acquisition of the auto-leasing company Carcade. As a result, B&N Group became the leading retailer in vehicle leasing in Russia.

In 2016 B&N Bank completed its merger with MDM bank, placing it in the top ten of all Russian lenders. In late 2017 the bank sought a bailout from the Russian state.

In 2018 Irish economist Cillian Doyle revealed that prior to the merger between these two banks, MDM had used a series of offshore vehicles located in the Irish Financial Services Center (IFSC) and Malta, as part of a scheme to create fictitious assets on its balance sheet in addition to hiding losses.[11]

The majority shareholders are the Chairman of the Board of Directors of B&N Bank Mikail Shishkhanov (59,4064 %) and Mikhail Gutseriev (39,3589 %).[12]

• B&N Bank Russian corporate site
• Banki.ru