Probusinessbank is included into Financial Group Life. The bank was organized on July 7, 1993, to provide services for industrial companies (industrial organizations of chemical, food, processing industries, high-tech, communication, construction, transport and wholesale sectors) and to boost development of the market sector enterprises.  

The management of the bank has chosen the development way as that of a commercial bank, independent of any political parties and movements, state and administrative institutions. Due to stable and professional performance, Probusinessbank is well-known in the international financial community. Credit programs aimed at business development are quite common for the bank.

Probusinessbank is a reliable and long-term partner for its customers. Besides the General License of the Central Bank of Russia for banking operations and license for deposits and precious metals placement, Probusinessbank holds licenses for brokerage, dealing, depository, and securities management operations. Probusinessbank also has a right to act as guarantor for customs authorities.

1994

Probusinessbank was reorganized into the Commercial bank (Limited Liability Company). The same year the largest auditing company Coopers & Lybrand (nowadays PricewaterhouseCoopers) became the Auditor of the bank.

1995

The bank got General license No. 2412 and started active operations at the corporate market. The first international audit of the bank was performed by Соорегs & Lybrand. Since 1995 Probusinessbank annually has prepared its reporting in accordance with the International Financial Reporting Standards (IFRS).

1996

The bank was included into the first ten most developing Russian banks, and in terms of the main characteristics it was included into 40 largest financial institutions of Russia. The bank participated in the programs financed by the World Bank and European Bank of Reconstruction and Development. The bank was accredited within the Financial Institutions Development Program and Enterprises Support Program. The bank started active operations under long-term credit granting process aimed at financing the capital costs. The bank participated in the investment programs of the Ministry of Finance of the Russian Federation and Moscow Government, the Ministry of Labour and Social Development, and the State Committee for Development of the North. Within the scope of the federal programs, the bank successfully performs credit granting process under the guarantees of the Ministry of Finance of the Russian Federation of such customers as the Ministry of Construction of the Russian Federation, the Ministry of Fuel and Energy of the Russian Federation, and Roskommash. The bank started to operate actively at the Russian and international financial markets. The bank entered into the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and became the first Russian bank which started to work with the new SWIFT Alliance Entry software. The bank was admitted to Reuters. The bank transferred the process of the internal documents circulation to the non-paper form using IBM Lotus Notes software.

1997

The respected European rating agency Fitch-IBCA for the first time assigned the full international credit rating to Probusinessbank. In the report on the bank’s financial position provided by Fitch in August 1997, it is stated that “Based on excellent results of its activities, Probusinessbank can be considered to be one of the most profitable Russian banks …”. The bank actively developed credit granting program for car purchase and trade financing. The bank started to cooperate with the USA-Russia Investment Fund under the SME credit granting programs.

1998

In order to strengthen and extend its own capital basis, Probusinessbank changed its legal status and was registered as Open Joint Stock Company. This year the bank established correspondent relations with the banks of Belorussia, Kazakhstan, Ukraine, Uzbekistan, as well as Austria, Belgium, Germany, India, Cyprus, Luxemburg, USA, and Switzerland. As a result of reasonable policy of the bank’s management in terms of liquidity during the crisis of 1998, the bank transferred nearly all of its assets, placed on the interbank market and invested in obligations of other issuers, to cash assets and balances on the correspondent accounts of the Central Bank of the Russian Federation and financial stability of the resident banks. American Express and ТUSRIF international credit lines were not closed during the crisis. Thus, the bank successfully overcame the crisis and increased its customer base sufficiently: about 900 new accounts were opened. It was possible to get such a result due to upgrading of the customers cash and settlement service, prevention of delays in payments and extending the range of the banking services.

Probusinessbank was one of the three Russian banks which overcame the crisis with the positive capital calculated under the international accounting standards (according to the diagnostic survey performed by the World Bank in autumn 1998). In 1998 Probusinessbank was the leader of car loans market.

1999

Due to successful decisions by the management of the bank, new financial instruments were developed and implemented: leasing and factoring operations, bank guarantees. In July 1999 Probusinessbank acted as a creditor in the syndicated pre-export financing to the largest Russian metallurgical organization “Severstal”, the arranger of the syndicated loan was Standard Bank London Limited. This year the bank started to operate at the financial institutions service market, and business processes changing program (reengineering program) started.

2000

The bank was admitted as a pilot bank in the project aimed at transferring the Russian Banking system to the international accounting standards. Sergey Leontiev, the President of Probusinessbank, became Head of the Committee of the Russian Bankers’ Association for restructuring of the banking sector. Probusinessbank launched mortgage loan program.

2001

International Finance Corporation (IFC) invested USD 5 million into the capital of Probusinessbank in the form of subordinated convertible into the bank’s shares loan. This transaction was the first investment of a large international financial institution into Russian commercial bank after the crisis of 1998.

2002

Probusinessbank was the only Moscow bank to participate in the program of the World Bank in terms of long-term credit granting process of enterprises (Enterprises Support Program). The bank signed the general agreement on cooperation with the Black Sea Bank of Development and Trade (credit line for the amount of USD 5 million), the bank acted as a financial intermediary of the Trade Financing Program implemented by this bank in Russia. The President of Probusinessbank Sergey Leontiev made a report on the performance of the USA-Russia Banking Dialogue at the meeting of Presidents Putin and Bush. An office opened in the International Trade Centre on the Krasnopresnenskaya Embankment.

2003

Within the scope of the strategy announced in 2003, Probusinessbank started to establish an integrated and flexible holding structure of horizontal type with participation of large regional banks. In January 2003 Probusinessbank purchased 94.5% of the shares stock of VUZ-bank (Ekaterinburg). This project was aimed at forming a universal financial institution in Ekaterinburg offering the unique range of products and international level of service at all the segments of the banking market. Implementation of the project allowed the bank to offer a new range of credit products for corporate sector, considerably increase the share of VUZ-bank at the retail market by offering the highly available range of products and services to the general public. This transaction resulted for Probusinessbank in extending the locations in one of the most actively developing regions of Russia. The European Bank of Reconstruction and Development provided Probusinessbank with a convertible subordinated loan. Besides, at the end of August 2003, the European Bank of Reconstruction and Development opened a credit line for the bank for the amount of USD 10 million for the purposes of financing the export and import operations of customers within the scope of the Trade Facilitation Program.

2004

The bank managed to increase the profitability of the Group up to 3-5%, notwithstanding the crisis of trust in summer 2004. This year became the year of building a new development strategy and service-based business model for the banks of the Group. This year the basis for the new strategic position was founded, operational processes were adjusted, the range of products was increased, and education started for the employees in terms of customer service quality. In 2004 “Express-Volga” Bank has been admitted to the Group.

2005

In summer 2005 Probusinessbank successfully launched the program regarding placement of debt securities at the international market. The program was set for USD 100 million. The arranger of the program was the USA-based BCP Securities. It should be mentioned that Probusinessbank performs all the settlement operations by order of both the partner-banks and their customers, using the correspondent network. At present the correspondent network of the bank includes more than 200 foreign credit institutions and about 100 Russian banks. 2005 was a breakthrough year for retail business, the number of retail credits 20 times increased. During the second half-year, the banks of the Financial Group issued up to 6,000 loans a month, while at the beginning of the year this figure was 300. SME business has fixed the portfolio business management principle, when a separate manager is fixed for each segment. Within the bank, service quality upgrading processes continued.

2006

The year passed for the Financial Group under the Life brand. The branding process important for all the banks of the Group started. Values of the Brand were developed and approved. The Group was included into the rating of 40 Top Russian Banks. At the beginning of November 2006, the bank performed private placement by selling additional issue for the amount of 34.5% for USD 122 million. In December 2006 Probusinessbank completed the transaction in terms of attracting credit for the amount USD 10 million for the 5-year term. The creditor under the transaction was the European Bank of Reconstruction and Development. The funds received as a result of the transaction were aimed at crediting SME customers of the bank. In December 2006 the transaction was completed in terms of increasing the share of Probusinessbank in Ivanovskiy Regional Bank up to 100%. Ivanovskiy Regional Bank Ltd was admitted to the Financial Group Life. In December 2006 international rating agency Fitch Ratings confirmed long-term national rating of Probusinessbank at "ВB+(rus)" level. The outlook under the long-term rating was confirmed as “Stable”. In 2006 the bank was included into the common settlement forms of FORTS – clearing participants.

2007

On March 22, 2007, Probusinessbank debuted at the London Stock Exchange with the notes issue program regarding participation in the loan for the total amount USD 750 million. Since May 21, 2007, individual customers of Probusinessbank got the possibility to trade at the Forex Exchange without intermediaries via the Internet dealing system ForexMarketGates. Electronic banking system of Probusinessbank was admitted to be one of the best in Russia, according to Finance Magazine rating. Probusinessbank became the winner of the general Russian national award in the sector of finance and insurance “Financial Russia”, having become the prize winner under “The best bank of the Central Federal Region of Russia 2007 in terms of corporate customer service”. Probusinessbank was already for the second year admitted to be one the best customer-centered banks based on the results of the Users’ Rating.

2008

Notwithstanding the new economic situation, 2008 was quite successful for Probusinessbank. According to the Finance Magazine rating, Probusinessbank took the second place in terms of credit cards sales in Russia. The shareholders of the Financial Group Life and Probusinessbank took a decision to separate the factoring line into the Factoring Company Life. The Financial Group Life got an award of the Balanced Scorecard Hall of Fame for executing strategy (BSC) from Palladium Company. The Financial Group Life was the first Russian company to receive it. The Balanced Scorecard Hall of Fame, existing since 1998, today contains 106 companies, including BMW Financial Services, Canon, Chrysler, Hilton, HSBC, Dupont, LG-Philips, Motorola, Nordea, Siemens and many others.

In a difficult economic situation, Probusinessbank increased its capital, having placed common shares within the scope of previously registered in CB RF issue of common shares in favour of East Capital Financial Institutions Fund AB. The amount of placement was RUR 375 million. Simultaneously East Capital provided Probusinessbank with subordinated credit for the amount RUR 625 million for the 5-year term. Probusinessbank was included into the list of 122 banks allowed to auctions of unsecured loans, as a result CB opened the limit to the bank to receive unsecured loans for RUR 3.5 billion. In November Gazenergobank was admitted to the Financial Group Life, and in December Bank24.ru joined the Group.

2009

In 2009 Probusinessbank, notwithstanding unstable economic situation, continued its business development under all business lines. The bank actively expanded to new regions, simultaneously extending the range of products and services for retail and corporate customers and implementing high technologies of remote service. Based on the results of 2009 Probusinessbank opened 16 credit-cash and operations offices, purchased update version of internet banking system Interbank RS.

During 2009 active process of integration of Bank24.ru and Gazenergobank acquired by the Bank was performed. The financial rehabilitation procedures helped the banks to find themselves in the profit zone by autumn 2009.

In January 2009 the Bank increased its share in the stock capital of Bank24.ru from 20% to 99.5%, and in the stock capital of Gazenergobank from 19.79% to 99.99%. Thus, at the beginning of 2009 the transactions completed in terms of acquisition of the both banks within the scope of the agreement between the Bank and Deposits Insurance Agency (DIA).

In May Probusinessbank completed additional issue of common share of the bank in the number of 291,328 shares with nominal value of RUR 1,000. The placement value was RUR 2,145 per one share, this additional issue was performed under private placement and it was placed in favour of the Sweden-based East Capital Financials Fund AB. During the additional issue, the share of the mentioned Sweden-based Fund in the Bank’s stock capital increased from 12.52% to 19.93%. Also in May 2009 Probusinessbank was accredited by DIA which allowed the Bank to participate in tenders to determine the bank-agents, through which DIA pays the insurance compensation to creditors of the first priority in insurance case.

2010

2010 was a year of improvement for both the Russian economics and financial and banking system. It was a successful year for Probusinessbank. Based on the results of 2010 the assets of Probusinessbank made RUR 81.73 billion, net income exceeded RUR 1 billion, the reason for it was gradual recovery of the Russian economics after the financial crisis of 2008. Within the year the Bank improved its positions by 30 points in terms of the amount of shareholders’ equity, it made RUR 7.23 billion, besides, Probusinessbank was among 50 Top largest Russian banks in terms of the total assets in the Forbes rating.

The Bank improved the SME customers service quality of the Financial Group Life, which helped to increase the growth of settlement accounts by 50% during the year, and it also actively developed in the sphere of innovative technologies, it was expressly shown by the new version of the Internet-client system. In 2010 a number of offices were opened in Tyumen, Cheboksary, Yoshkar-Ola and others.

During the past year Probusinessbank received the award “Consumers’ Rights 2010”, won the “Financial Services” nomination, and, based on the results of the sixth regional competition “Consumers’ trust 2010” held in Ryazan was named the winner in two nominations in a row: “Retail Deposits. Consumers’ Recognition” and “Considerable Contribution to Support of Small and Medium Entrepreneurship”.