Nationalny Kosmicheski Bank, a public joint-stock company, was formed on July 20, 1993, as a limited liability partnership by decision of the founding shareholders, most them representatives of the Russian space industry, such as the private joint-stock company INFORM-COSMOS, private joint-stock company APPLIED MECHANICS research and manufacturing association (based in Krasnoyarsk-26), and state enterprise COSMIC COMMUNICATION production association. Hence the bank’s name, echoing the nature of the founding shareholders’ business.

In 1994, the bank received state registration as a lending and financial institution with the Central Bank of the Russian Federation (registration number 2755) and as an independent legal entity with the Moscow Registration Chamber (certificate No. 031.268) with an authorized capital stock of 120,000,000 (non-denominated) Russian rubles.

Along with registration with the Central Bank, NK Bank procured a banking license to carry out most of the basic transactions in Russian currency.

In an expansion of its services, in December 1996 NK Bank procured a foreign currency banking license to carry out foreign exchange transactions in cash and cashless forms, collect foreign currencies, and issue bank guarantees.

With the acquisition of customers operating in the gold mining industry, and to meet growing needs for new services, in January 1997 NK Bank procured a license to carry out transactions in precious metals, which turned the bank into an active participant of the Russian precious metals market, serving a technologically closed cycle of mining and refining enterprises and jewelry manufacturers, which are the primary consumers of precious metals.

Little by little the bank had been picking up pace, expanding the pool of customers, and expanding its staff. Its authorized capital stock was increased repeatedly, reaching 17,570,000,000 (non-denominated) rubles by 1997.

In December 1997, NK Bank became a professional participant of the Russian securities market, procuring a license from the Central Bank (No. 138-00127-210400), under which the bank can provide brokerage services (including for private customers), dealing and depositary services, and since February 1999 – securities management services.

At the turn of the 21^st century, cash started gradually to give way to bank cards. Many Russians opted for bank cards that provide an extra measure of safety and mobility for funds. Since April 1998, NK Bank has been issuing MasterCard International cards as part of an agency program with Bank of Moscow.

Pursuant to Russian laws, in May 1998 NK Bank was reorganized from a limited liability partnership into a public joint-stock company. On September 14, 1998, the Central Bank of the Russian Federation registered the new Articles of Association of NK Bank and issued a new Certificate and License No. 2755.

The Russian financial crisis of 1998 put the local banking system to the test. Amid mass recalls of banking licenses, with only 1,000 banks out of 6,000 surviving, NK Bank weathered the crisis and event went on to increase its authorized capital stock in 1999 to 24,600,000 Russian rubles, while continuing to expand its banking operations and procuring a General License in 2000.

The post-crisis period showed that most of the surviving banks were not the strongest ones but those most adaptive and mobile, NK Bank being a graphic example. In April 2002, NK Bank procured a license to act as a guarantor in relations with Russian customs authorities.

The bank focuses a great deal of attention on the safety of incoming and outgoing customer data, resorting to special security measures.

As part of its ongoing efforts to protect data while it is being processed, stored, and transmitted to electronic system users, in July 2002 NK Bank procured a license to provide data encryption services, distribute and maintain data encryption devices, from the Federal Agency for Government Communication and Information under the Russian President.

On July 30, 2002, Moscow Inter-district Inspectorate No. 39 of the Russian Ministry for Taxes and Duties recorded NK Bank in the Unified State Register of Legal Entities under primary state registration number 1027739028536.

Between 2002 and 2008, NK Bank participated in a Bank of Russia experiment that involved supervising lending institutions as part of daily monitoring and personal supervisory control of bank operations.

Since June 2004, NK Bank is issuing its own bank cards as an affiliated member of MasterCard International. The introduction of the deposit insurance system became a key milestone in the process of shaping Russia ’s corporate and business culture. To secure depositors’ trust and interests, in November 2004 NK Bank was put on the register of banks participating in the system of mandatory deposit insurance under number 208.

Based on NK Bank’s performance in 2005, Moody’s Investors Service agency assigned to NK Bank the following global ratings on the international scale:

• B3 – for long-term foreign currency deposits
• NP – for short-term foreign currency deposits
• E+ financial stability rating

The outlook for all ratings is stable. Moody’s Interfax rated NK Bank as Ваа3.ru on the national scale.

In 2007, 2008 and 2009, Moody’s Investors Service confirmed NK Bank’s previous ratings.

In 2007, the audit firm Roland Berger (Germany, Munich) conducted a strategic audit of NK Bank, issuing recommendations of strategic options for NK Bank and proposing a detailed strategy till 2011.

NK Bank is constantly enhancing its customer relations. A tailored approach to each customer, efficient resolution of issues, a full range of banking services for all customer categories, superior service quality and culture contribute to the favorable reputation and image of NK Bank as a full-service lending institution.

NK Bank currently has at its disposal everything it needs to bring its ambitious plans to life: considerable expertise, solid financial status, modern technologies, and professional team.