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In order to financially assist Communist Parties, anti-imperialism, and pro national liberation movements worldwide, these banks acted as subsidiaries or "daughters" to the "mother" bank or Gosbank, which was the central bank of Russian Soviet Federative Socialist Republic (Russia) from 1921 to 1922 and the Soviet Union from 1923 to 1991.
The State Bank of the USSR (Russian: Государственный банк СССР, romanized: Gosudarstvennyy bank SSSR), from 1921 to 1923 State Bank of the RSFSR and commonly referred to as Gosbank (Russian: Госбанк), was the central bank and main component of the single-tier banking system of the Soviet Union from 1922 to 1991.
The Foreign Trade Bank of the USSR (Russian: Банк для внешней торговли СССР, abbreviated Внешторгбанк, Latinized Vneshtorgbank) was the monopoly state credit institution for trade finance in the Soviet Union.
A soviet passbook with the words "savings booklet" in the USSR's 15 official languages. The system of State Labor Savings Banks of the USSR (Russian: Государственные трудовые сберегательные кассы СССР, shorthand Gostrudsberkassy) was the main retail bank of the Soviet Union, which in some respects perpetuated the prior operations of savings banks ...
Following the dissolution of the Soviet Union, Promstroybank's operations were reorganized into different entities in the different post-Soviet states, for example Belpromstroybank in Belarus, the Estonian Commercial Bank of Industry and Construction (ETEK), Industriyabank in Georgia, Turan Bank in Kazakhstan, Moldindconbank in Moldova ...
The Soviet Union was the first jurisdiction to implement a single-tier banking system, which took shape as part of the New Economic Policy in the early 1920s following the financial dislocation of the first few years following the Russian Revolution, during which all banks' assets were nationalized and liabilities canceled in late 1917 and banking was declared a state monopoly.
Banks of the Soviet Union (1 C, 12 P) Pages in category "Banking in the Soviet Union" The following 3 pages are in this category, out of 3 total.
In 1923, the bank set up a subsidiary Genossenschaftliche Transit Bank (Cooperative Transit Bank) in Riga, Latvia. [4] [10] [11] During 1924 the bank balance increased 2.5 fold and by the end of the year amounted to £2.4 million, and the bank’s capital stock increased to £500,000. [4] In 1925 the capital stock doubled to £1 million.