The Saint Petersburg International Commercial Bank (Russian: Санкт-Петербургский международный коммерческий банк) was a major bank in the Russian Empire, founded in 1869 in Saint Petersburg. By the start of the 20th century it was Russia's second private-sector bank by assets, behind the Volga-Kama Commercial Bank, and by 1914 it still held that rank behind the Russo-Asiatic Bank. In late 1917 following the Russian Revolution, like all other commercial banks in Russia, it was absorbed into the State Bank with no compensation to its shareholders.
Overview
The bank's charter was approved by Alexander II on 9 June 1869. The bank's fixed capital was initially determined at 5 million rubles and was distributed into 20 thousand shares of 250 rubles each. It was initially backed by German investors, especially the Berlin-based Disconto-Gesellschaft.
In 1896, the International Commercial Bank became the largest shareholder of the newly established Russo-Chinese Bank, with 15.3 percent of the initial capital. It had close links with Russia's military-industrial complex and controlled over 50 companies in 1914, including rail carriers, industrial enterprises, and insurance companies.
The bank was initially located at 6, Angliyskaya Embankment. In 1898, the bank moved to a new purpose-built head office at 58 Nevsky Prospekt on a design by architect Stanislas A. Brzhozovsky [ru]. The latter property was expanded in 1912 with an additional building facing Ekaterininskaya Street.
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The bank's head office Saint Petersburg head office in 1915
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Former branch building [ru] in Moscow, Ilyinka 9
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Former building in Kharkiv, Constitution Square 22
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See also
- Volga-Kama Commercial Bank
- Azov-Don Commercial Bank
- Russo-Asiatic Bank
- Russian Bank for Foreign Trade
- Moscow Merchant Bank
Notes
- Nikita Lychakov (2018), Government-made bank distress: Industrialisation policies and the Russian financial crisis of 1899-1902 (PDF), Belfast: Queen's University Centre for Economic History
- Michael Jabara Carley (November 1990), "From Revolution to Dissolution: The Quai d'Orsay, the Banque Russo-Asiatique, and the Chinese Eastern Railway, 1917-1926", The International History Review, 12:4 (4), Taylor & Francis: 721–761, JSTOR 40106277
- George Garvy (1977). "The Origins and Evolution of the Soviet Banking System: An Historical Perspective" (PDF). Money, Financial Flows, and Credit in the Soviet Union. National Bureau of Economic Research.
- ^ "St. Petersburg International Commercial Bank". Saint Petersburg Encyclopedia.
- "Kharkiv. Constitution Square". Travel Ukraine & World. 15 March 2022.
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