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MTS Bank

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Russian commercial bank
MTS Bank
Native nameМТС Банк
Company typePublic Joint Stock Company
IndustryFinancial services
PredecessorMoscow Bank for Reconstruction and Development
Founded1993; 31 years ago (1993)
HeadquartersMoscow, Russia
Area servedRussia
Key peopleFilatov Ilya Valentinovich (Chairman)
ProductsRetail banking, online banking, mobile banking
OwnerMTS (telecommunications) majority shareholder
Number of employees4,702 (2015)
Websitewww.mtsbank.ru

MTS Bank (Russian: МТС Банк) is a Russian commercial bank headquartered in Moscow. It provides retail banking and business banking services throughout Russia and has a focus on mobile banking. The bank was founded in 1993 and is majority owned by Russian telecoms company MTS.

On February 24, 2023, due to the Russian invasion of Ukraine, the bank was added to the sanctions list of the United States, United Kingdom and Australia.

History

The bank was founded in 1993 as PJSC Joint-Stock Commercial Bank Moscow Bank for Reconstruction and Development. In 2012 the bank was renamed as MTS Bank. In 2016, the bank opened access to Samsung Pay and Apple pay for its clients. In 2017 it was selected as the main operator of payment services for the official website of the Mayor of Moscow and the mobile application “Gosuslugi Moskvy”

In 2021, MTS Bank placed its debut bond issue for 5 billion rubles.

On 24 February 2023, amid Russia's invasion of Ukraine, MTS Bank was placed on the US sanctions list for "engaging in benefiting from the Russian government". At the same time, the bank was placed on the UK sanctions list for similar reasons. As a result, MTS Bank's assets with a total book value of RUB 9.6 billion were frozen. On 19 May 2023, the bank was placed under Australian sanctions.

On March 31, 2023, due to sanctions imposed by the United States, “taking into account the sanctions risks,” the Central Bank of the UAE revoked the previously issued license of MTS Bank. The bank was also forced to refuse settlements in US dollars, Turkish lira, Uzbek soums, Omani rials and Azerbaijani manats.

In early September 2023, information about a data leak of almost 1 million MTS Bank clients appeared on the Internet. On October 19, 2023, the Russian government authority, Roskamnadzor confirmed the leak and initiated a violation of personal data protocol.

References

  1. ^ "UAE cancels licence for Russia's sanctioned MTS Bank". Reuters. April 1, 2023.
  2. "Рэнкинги Интерфакс-100 – Финмаркет" [Rankings Interfax-100 – Finmarket] (in Russian). www.finmarket.ru. Archived from the original on 2018-07-25. Retrieved 2018-07-25.
  3. "Банк Евтушенкова стал единым оператором городских платежей на mos.ru" [Bank has become a sole operator of city payments on mos.ru] (in Russian). Archived from the original on 2018-07-25. Retrieved 2018-01-23.
  4. "МТС Банк размещает дебютный выпуск облигаций на 5 млрд рублей" [MTS Bank places its debut bond issue for 5 billion rubles]. МТС Банк (in Russian). Archived from the original on 2021-09-29. Retrieved 2021-09-29.
  5. "Public Joint Stock Company MTS Bank is subject to sanctions". Open Sanctions. Retrieved October 25, 2024.
  6. "Roskomnadzor confirmed the leak of personal data of MTS Bank customers". Oreanda-News agency. October 19, 2023.
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