Otkritie FC Bank

The lending institution was registered as TIPCO Venture Bank (Russian: ТИПКО Венчур Банк) in 1992. The bank was renamed in 1994 as joint stock investment commercial bank Novaya Moskva (Russian: Новая Москва, Russian for New Moscow), and Nomos-Bank (Russian: Номос-Банк) in 2007. ICT Group (Alexander Nesis is a co-owner) gathered a controlling stake in the bank in May 2006.

Otkritie Holding

In 2012, Otkritie took over NOMOS-Bank, using a $1bn loan from VTB Bank.

In 2014, NOMOS-Bank was renamed to Otkritie Financial Corporation Bank.

In 201,4 the Bank of Russia picked Bank FC Otkritie to rescue National Bank Trust.

Otkritie allegedly became Russia's largest private bank in late 2014 by buying 625 billion rubles in bonds from the state oil company Rosneft, using them as collateral to obtain reverse repo loans from the Central Bank of Russia, then passing on the dollars it received to Rosneft, which is not allowed access to international capital markets due to international sanctions. As repo funding had a 2.5% interest rate and the bond had a 7.5% coupon, Otkritie made billions from the trade.

In 2015, all in all, Otkritie Holding's banks lay claims to get a big share of government aid among all private banks (Rub 65.2 bln or 7.8% of the government program).

Acquisitions

In 2016, Financial group has completed the legal takeover of Khanty-Mansiysk Otkritie Bank by Otkritie FC Bank. As the financial group's press service reported, the merged bank would hold total assets of Rub 3.1 tln.

In December 2016, Otkritie Group and Rosgosstrakh Group (Russia's largest insurance company) agreed to merge.

Sanctions

On 24 February 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Otkritie FC Bank under E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR, and for operating or having operated in the financial services sector of the Russian Federation economy. Subsidiary companies were also sanctioned. The UK first imposed an asset freeze sanction on 28 March 2022, increased in March 2023 to include trust services and in December 2023 increased them again to include a prohibition on correspondent banking relationships.