Russian-Asian Bank

Categories / Economy/Finances and Credit
RUSSIAN-ASIAN BANK, a joint-stock commercial bank. It was founded in 1910 by merging the Northern Bank founded in 1901 and the Russian-Chinese Bank founded in 1895. In short time the bank ranked first among all Russian joint-stock banks in terms of volume of transactions. The bank had 102 branches, and financing industry was its major activity. It was due to investments of the Russian-Asian Bank that production volumes increased at a number of enterprises including metallurgical works, engineering plants, military enterprises, and in other sectors. The bank took an active part in establishing a number of monopoly concerns in machine-building, oil industry, tobacco industry, etc. The military industrial group formed with the Russian-Asian Bank at the head was the largest group that included a number of plants of St. Petersburg such as Putilovsky Plant, Nevsky Shipbuilding and Mechanical Plant, Baranovsky's Plant, etc., and played an important role in manufacturing artillery, ammunition, and ships. The bank had over 160 enterprises under its control in 1917 and had its own business in bread and sugar. In its activities, the bank enjoyed the support of the so-called friendly banks including the St. Petersburg Private Bank. The bank settled a special 10-year with the latter in 1911. The bank also had relations with the Siberian Bank, and the Russian Bank of Commerce and Industry. The bank had links to foreign capital, mainly French capital. With A. I. Putilov at the head from beginning to end, the bank was located in 62 Nevsky Prospect. It was nationalized after October 1917.

References: Бовыкин В. И., Петров Ю. А. Коммерческие банки Российской империи. М., 1994. С. 166-178.

V. S. Solomko. Putilov Alexey Ivanovich
Nevsky prospect/Saint Petersburg, city, house 62
Петров Ю. А., Бовыкин В. И. Коммерческие банки Российской империи. М., 1994 Kirovsky Plant
Nevsky Plant
St. Petersburg Private Commercial Bank
Siberian Merchant Bank
Russian Bank of Commerce and Industry
1895
1910