Auto finance bank

RN Bank CJSC is a joint venture of the Renault-Nissan alliance (60%) and the Unicredit Bank Group (40%). RN Bank offers financial products and services to private customers and dealers to facilitate the acquisition and use of Aljanas cars in Russia.

History

Barn BV is the holder of the bank's 100% shares as of 3.09.2013.

RN Bank CJSC is a small, initially regional financial institute that "moved" to Moscow in the summer of 2013. Currently controlled by the Franco-Japanese automobile alliance Renault-Nissan and the Italy international banking group UniCredit, which until September 2013 owned 100% of the shares. The bank was focused on lending to individuals and legal entities, as well as on raising funds from the population in deposits, but by the end of 2011 the business concept had changed - the bank refused to work with private and corporate clients. According to the adopted development strategy, a captive car loan bank is being created from a universal credit institution^[1]

The credit institution was registered by the USSR State Bank in September 1989 under the name "Omsk Cooperative Bank Siberia." Since 2001 he has been working in the form of a CJSC. In November 2005, ATFBank (Kazakhstan) became the sole shareholder of Sibir OKB CJSC, and in September 2006 the Russian credit institution received the name Bank Siberia Closed Joint Stock Company. In October 2013, it became known about the change in the name of the bank to CJSC RN Bank.

In mid-2007, ATFBank was acquired by the European banking group UniCredit. In the same year, the bank showed significant asset growth rates - only from January to July 2007 they increased by 718%, which allowed a little-known bank to break into the fourth hundred Russian credit institutions (in 2006 it was below 1,100 positions).

From September 2011 to September 2013, the sole shareholder of the credit institution was YuniKredit Bank CJSC. Italy-based international banking group ^[2] 40% of the shares; the beneficial owner of the 60% package is the French-automobile Japanese alliance Renault-Nissan.

As of June 2, 2014, the bank is mono-official - the head office in the summer of 2013 was transferred from Omsk to Moscow. In the IV quarter of 2011, Sibir Bank announced the termination of the opening of new accounts, the issuance of loans, the extension of deposits after the end of the placement period, the provision of safe deposit boxes for rent, the issuance of plastic cards and the provision of other services to individuals and corporate clients. This was due to the decision to repurpose the bank's business. The media announced the creation in 2013 on the basis of Siberia of a specialized car loan bank as a joint venture between Renault-Nissan and UniCredit Group with shares of 60% and 40%, respectively.

Since the beginning of the business re-profiling process in November 2011, the bank's net assets, as well as liabilities, have undergone significant changes. Assets decreased by more than half (as of mid-2012), and 94% were occupied by issued interbank loans. In liabilities, the share of client funds decreased to less than 0.18%. As of August 2012, 53% of the resource base was formed by received interbank loans from resident banks (probably from the parent organization), 46% were the bank's own funds.

At the end of 2012, a loss of 58.4 million rubles was received (in 2011 there was also a loss of 246 million).

Board of Directors: Mikhail Alekseev (Chairman, Chairman of the Board of UniCredit Bank), Philippe Jean-Claude Buros, Eric Jean Spielren, Rakesh Kochhar, Jett Harmon Jones, Dmitry Mokhnachev, Simon Markuchchi, Mauro Maschio.

Board: Kintzinger Bruno Robert Louis (chairman), Darya Lvova.

2023

Name change to "Auto Finance Bank"

AvtoVAZ renamed RN Bank, acquired from BARN B.V., to Avto Finance Bank. This became known on July 21, 2023. AvtoVAZ elected a new board of directors of the bank, prematurely terminating the powers of the former. Information about who entered it is not specified.

AvtoVAZ bought RN Bank

On June 21, 2023, AvtoVAZ announced the purchase of 100% of RN Bank (the Russian bank of the Renault-Nissan alliance) from BARN B.V. The deal is closed, its financial and other conditions are not disclosed.

As Frank Media writes with reference to the reports of the French RCI Banque, AvtoVAZ bought 100% of the bank's RN from the Renault-Nissan alliance for 7 billion rubles. RCI Banque is one of the co-owners of BARN B.V., which previously owned RN Bank.

RN-Bank has been operating in the Russian market since 2013. Before the deal with AvtoVAZ, 100% of the credit institution belonged to the Dutch BARN B.V., 40% of which is owned by the Italian group UniCredit, and 60% is divided equally between the members of the Renault-Nissan group. In mid-2022, 14% of the retail loan portfolio was occupied by AvtoVAZ products. The bank provides services for financing dealers, issues retail loans for the purchase of cars brands of the Renault-Nissan alliance, develops insurance products - casco, life insurance, extended warranty.

AvtoVAZ announced the purchase of 100% RN Bank

AvtoVAZ President Maxim Sokolov on June 15, 2023 noted the complexity of negotiations on the purchase of RN Bank.

The process of acquiring a bank with foreign participation was not easy - there are many requirements both from sellers and from our regulatory bodies. I want to say one thing - the contract of sale was signed by the parties, and it expects its financial closure. I will say this, we are in the final stage of the process, - said Sokolov then.

On November 29, 2023, Russian President Vladimir Putin signed an order allowing a Russian automotive company to buy a 100% stake in RN Bank.

After the start of the military special operation of the Russian Federation in Ukraine, Renault and Nissan decided to leave Russia and transfer their assets to the ownership of the Russian FSUE NAMI. UniCredit is also considering leaving Russia by June 2023.^[3]

Notes