Russian Standard Bank (Russian: АО «Банк Русский Стандарт») is one of the largest Russian banks and the country's leading consumer lender. CJSC JSCB “Agrooptorgbank” was entered by the Central Bank of the Russian Federation in the book of state registration of credit organizations (registered) on March 31, 1993. 11 enterprises of the agro-industrial complex were the founders of the bank. The initial purpose of the bank was to carry out settlements between enterprises of the agro-industrial complex, but due to both the general recession of the Russian economy in the early and mid-1990s and the decline of the agro-industry in particular, it lost its importance and by 1996 ceased pro-active activity. The following facts about the bank at that time are known: the receipt in December 1993 of an extended currency license, which allows (in addition to carrying out currency operations in Russia (domestic foreign exchange license)) to establish correspondent relations with six foreign banks; in July 1994, along with some other credit organizations made the announcement on the discovery of fake bank documents (guarantee letters); in 1996 the trial with the Avtoselkhozmash bank because of the latter's debt. In 1996, due to a change in legislation, changed the legal form, from Closed Type Joint Stock Company (CJSC) (in Russian "Акционерное общество закрытого типа") to Closed Joint Stock Company (in Russian "Закрытое акционерное общество"). More information...
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