Volkswagen Bank RUS Volkswagen Bank RUS

History

2025: Businessman Igor Kim bought Volkswagen Bank

Igor Kim became the sole owner of Volkswagen Bank Rus LLC after the transaction was completed at the end of February 2025. According to the Unified State Register of Legal Entities (USRUL), the businessman acquired 45% of the bank's shares directly, and received the remaining 55% through the Expomobility company controlled by him.

According to Interfax, permission to sell the Russian banking subsidiary to the German automaker Volkswagen was granted by decree of the President of Russia on December 31, 2024.

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Фото: Alexander Miridonov/Kommersant

Igor Kim is known in the Russian market as a banker, and in recent years has acquired a reputation as a buyer of a number of assets of foreign companies leaving the Russian market. In the period 2023-2024, the businessman, together with partners, became the owner of several leasing and production assets in the automotive industry, including former Russian subsidiaries CNH Industrial, Volvo and Mitsubishi.

Earlier, the structure controlled by Igor Kim acquired Volkswagen's leasing and factoring subsidiaries in Russia - Volkswagen Financial Services Rus LLC and Volkswagen Group Finance LLC. In addition, in 2024, Expobank, owned by the entrepreneur, bought a Russian bank from the British group HSBC.

Volkswagen Bank Rus was founded in 2010 to implement programs to finance the sale of Volkswagen brand cars and specialized in issuing car loans. At the end of 2024, the financial institution ranks 135th in the Interfax-100 ranking with assets of ₽24 billion and capital of ₽23,6 billion.

Expobank, controlled by Igor Kim, had assets of ₽272,5 billion at the end of 2024 and ranked 35th in the Interfax-100 ranking^[1]

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