Renaissance Credit
{{Short description|Russian banking institution}}
{{Infobox company
| name = Renaissance Credit
| former_name = AllianceInvest
| logo = Логотип Ренессанс Банк.svg
| logo_caption =
| logo_alt =
| image = Renaissance_Credit_bank_in_Moscow_in_Maryino_(June_2020).jpg
| image_size =
| image_alt =
| image_caption = Renaissance Credit bank branch in Moscow in 2020
| type = Limited liability company
| industry = Financial services
| founded = {{Start date and age |2000|11|24}}
| hq_location_city = Moscow
| hq_location_country = Russia
| area_served = Russia
| key_people = Tatiana Khondru (Chairman)
| products = Banking services
| num_employees =
| num_employees_year =
| parent = ONEXIM group
| website = {{URL|https://rencredit.ru/}}
}}
Renaissance Credit ({{langx |ru|Банк Ренессанс}}) is a Russian commercial bank providing retail banking services and headquartered in Moscow. The financial institution focuses on the consumer lending market and is one of the Top-100 Russian banks.[http://www.banki.ru/banks/engbanks/bank/?id=17266 Renaissance Credit Commercial Bank][https://rencredit.ru/about/ About] Renaissance Credit (along with its parent company Renaissance Capital) is a subsidiary of ONEXIM Group.[https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=34416936 Company Overview of Commercial Bank Renaissance Credit Limited Liability Company] // Bloomberg L.P. In 2013, Russian billionaire Mikhail Prokhorov took the largest stake in Renaissance Credit through his company Onexim Group.
As with other Russian banks, Renaissance Credit was sanctioned by the United States government after Russian invasion of Ukraine, in response the bank closed its London, New York and Johannesburg offices.{{cite news |url=https://news.bloomberglaw.com/banking-law/russias-rencap-closing-london-new-york-offices-amid-sanctions |title=Russia’s RenCap Closing London, N.Y. Offices Amid Sanctions |date=June 1, 2022 |publisher=Bloomberg }}
History
The bank was established in 2000 under the name AllianceInvest. In 2002, he received the title of "Treasurer". In 2003, the bank was acquired by Renaissance Group and renamed in Renaissance Capital.[http://www.kommersant.ru/doc/445684 «Ренессанс Капитал» нашел себе «Казначея»][http://www.banki.ru/banks/bank/rencredit/ Банк «Ренессанс Кредит»] на Банки.ру[http://www.yourbanks.ru/bank/4184.html Ренессанс Кредит] на ТвоиБанки.ru This allowed Renaissance Group to enter the retail consumer lending market. In 2007, the bank began operating under the Renaissance Credit brand, and in 2013, its official name became the same.[http://rencredit.ru/novosti/kb-renessans-kapital-ooo-prinyal-reshenie-ob-izmenenii-naimenovaniya Решение об изменении наименования] {{webarchive|url=https://web.archive.org/web/20130806171456/http://rencredit.ru/novosti/kb-renessans-kapital-ooo-prinyal-reshenie-ob-izmenenii-naimenovaniya#}} новость от 06.03.2013
In 2012, the Bank issued unsecured loans by 66.7 billion rubles putting the bank in 7th place in Russia.{{cite web |url=http://rating.rbc.ru/articles/2013/07/07/33982966_tbl.shtml?2013/07/07/33982943 |title=Рейтинг банков по объёму выданных беззалоговых кредитов в 2012 году |year =2012}}
The total volume of the portfolio issued by non-tax loans as of January 1, 2013, amounted to 62.6 billion rubles.[http://rating.rbc.ru/articles/2013/07/07/33982966_tbl.shtml?2013/07/07/33982945 Рейтинг банков по размеру портфеля беззалоговых кредитов на 1 января 2013 года]
In June 2013, Standard & Poor's rating agency has assigned a long-term rating "B+" with a stable outlook.{{Cite web|url=http://rencredit.ru/o-banke/press-czentr/press-relizy/2013/standard-poors-povysilo-rejting-renessans-kredit#|title=Standard & Poor’s повысило рейтинг "Ренессанс Кредит"|accessdate=2013-09-21|archiveurl=https://web.archive.org/web/20130923061841/http://rencredit.ru/o-banke/press-czentr/press-relizy/2013/standard-poors-povysilo-rejting-renessans-kredit#|archivedate=2013-09-23|url-status=dead}}
Owners and management
The main owner of the bank is the ONEXIM group, which owns 83.02% in its authorized capital.[http://rencredit.ru/investoram/klyuchevye-fakty Ключевые факты] Another 6.5% is owned by Evgeny Yurchenko.[http://www.vedomosti.ru/finance/news/12380131/bankir_iz_svyazinvesta Экс-гендиректор «Связьинвеста» купил 6,5 % банка «Ренессанс кредит»]
At the beginning of 2012, the ONEXIM Group acquired a 32.25% stake in the bank from Renaissance Group,[http://www.forbes.ru/news/78754-oneksim-priobretaet-32-banka-renessans-kredit «Ъ»: «Онэксим» приобретает 32 % банка «Ренессанс Кредит»] and in November 2012 it bought out the remaining stake in Renaissance Group, increasing its stake to 89.52%.{{Cite web|url=http://www.rbcdaily.ru/finance/562949985136023#|title=Стивен Дженнингс покинет инвестбанк "Ренессанс капитал"|accessdate=2013-09-17|archiveurl=https://web.archive.org/web/20131006133507/http://rbcdaily.ru/finance/562949985136023#|archivedate=2013-10-06|url-status=dead}} During the last transaction, the Renaissance Capital investment bank, which was completely bought out by the group, also became the property of ONEXIM.
Evgeny Yurchenko acquired his stake in ONEXIM Group in May 2013.
Activity
Renaissance Credit is a bank working with individuals. The main activity of the Bank is related to the issuance of consumer loans, credit cards and deposits.
The bank has about 150 branches in Russia, and also cooperates with major federal retail chains.