First Czech-Russian Bank (PBRB)

FIRST CZECH-RUSSIAN BANK Limited Liability Company ("PBRB LLC") was founded in 1996 in order to service foreign trade and investment projects of the Russian Federation and the Czech Republic and provide banking services to companies participating in Russian-Czech foreign economic relations, as well as Russian enterprises and organizations created with the participation of Czech capital. The main founder of the Bank was Investicni A Postovni Banka AS (Investment and Postal Bank), Czech Republic.

Priority areas of the Bank's development are:

• servicing foreign trade transactions with Eastern European countries;
• attracting European financial institutions specializing in concessional lending to exporting firms and their partners as strategic partners;
• establishing strategic cooperation with state companies of European countries that insure risks associated with export operations;
• further improving the quality of the Bank's services by improving banking technologies and business processes.

2023: Former vice president of the bank sentenced to 4.5 years in prison for embezzlement of 475 million rubles

At the end of December 2023, the Basmanny District Court of Moscow sentenced Dmitry Merkulov, the former vice president of the bankrupt First Czech-Russian Bank (PBRB). The ex-banker received 4.5 years in a general regime colony for embezzlement of 475 million rubles. Read more here.

2016

The Central Bank introduced a temporary administration in the First Czech-Russian Bank (PBRB) from March 24.

the near future, the interim administration will prepare proposals on the conditions for further activities of the bank," the statement said.

It was this bank that in September 2015 issued a loan to the National Front party, whose leader is Marine Le Pen.

On July 1, 2016, the Bank of Russia revoked the banking license from the Moscow First Czech-Russian Bank. According to the Central Bank, with the unsatisfactory quality of the assets of PKRB, the Bank inadequately assessed the accepted risks.

A proper credit risk assessment as required by the supervisory authority resulted in a total loss of the bank's own funds (capital).

PBRB Bank is a member of the deposit insurance system. According to the reporting data, as of June 1, 2016, it ranked 126th in the banking system of the Russian Federation in terms of assets.