St. Petersburg Private Commercial Bank

Categories / Economy/Finances and Credit
ST. PETERSBURG PRIVATE COMMERCIAL BANK, the first joint-stock bank in Russia founded in 1864 for financing trade deals on the Exchange of St. Petersburg. Its major activities included transactions with securities such as selling public bonds and guaranteeing bonds of rail carriers. The bank started to finance industry and take an active part in establishing and expanding metallurgical works, engineering plants, chemical plants, and other enterprises during the period of economic growth in the 1890s. Although it was on the verge of bankruptcy in the 1870s and in the early 20th century, the bank managed to survive due to governmental support. The bank participated in financing industry and establishing monopoly concerns during the prewar economic growth cooperating closely with the Russian-Asian Bank. The bank was among the largest 10 banks of Russia by 1917. The bank’s offices were initially located at 18 Angliiskaya Embankment, then moving to 28 Nevsky Prospect in 1906-10, and to 1 Nevsky Prospect from 1911; the building was reconstructed by architect V. P. Tseidler.

References: Бовыкин В. И., Петров Ю. А. Коммерческие банки Российской империи. М., 1994. С. 79-91.

V. S. Solomko. Tseidler Vladimir Petrovich
Angliiskaya Embankment/Saint Petersburg, city, house 18
Nevsky prospect/Saint Petersburg, city, house 1
Nevsky prospect/Saint Petersburg, city, house 28
Петров Ю. А., Бовыкин В. И. Коммерческие банки Российской империи. М., 1994 Russian-Asian Bank
1864