Prombank

{{short description |Former Soviet bank}} {{Infobox company | name = Prombank | logo = | image = Здание Промбанка 3.jpg | image_caption = Former Prombank building on Lenin Square, Novosibirsk, later repurposed as City Hall | type = State owned company | industry = Financial services | founded = {{Start date |1922|09|01}} | defunct = {{End date|1959}} | fate = Merged | successor = Construction Bank of the USSR | hq_location_city = | hq_location_country = Soviet Union | area_served = Soviet Union | key_people = Alexander Krasnoshchyokov (first leader) | products = Loans | owner = Government of the Soviet Union | num_employees = | num_employees_year = }}

'''Prombank''' ({{langx|ru|Промбанк}} for Промышленный банк, {{lit|Industrial Bank}}) was the shorthand name for a series of significant institutions within the Soviet banking system between 1922 and 1959, when Prombank was merged with Selkhozbank (Agricultural Bank) and Tsekombank (Residential Construction Bank) to form the Construction Bank of the USSR, or Stroybank.<ref name=Garvy>{{cite book |chapter-url=https://www.nber.org/system/files/chapters/c4154/c4154.pdf |title=Money, Financial Flows, and Credit in the Soviet Union |author=George Garvy |publisher=National Bureau of Economic Research |year=1977 |chapter=The Origins and Evolution of the Soviet Banking System: An Historical Perspective}}</ref>{{rp|31}}

== History == The ''Russian Trade and Industrial Bank'' ({{langx|ru|Российский торгово-промышленный банк}}) was established on {{date|1922/09/01}} under the New Economic Policy (NEP).{{R|Garvy|p=28}} On {{date|1922/12/07}}, another specialized bank was established as Elektrokredit ({{lang|ru|Электрокредит}}), a joint-stock company. On {{date|1924/08/13}} the former was renamed the ''Trade and Industrial Bank of the USSR'' ({{lang|ru|Торгово-промышленный банк СССР}}), and on {{date|1924/10/29}} the latter was reorganized as the ''Bank for the Electrification of the USSR'' or ''Elektrobank'' ({{lang|ru|Электробанк}}).

On {{date|1928/06/27}}, Prombank absorbed Elektrobank<ref>{{citation |author=Jonathan Coopersmith |title=The Electrification of Russia, 1880–1926 |publisher=Cornell University Press |year=2016 |url=https://muse.jhu.edu/pub/255/oa_monograph/chapter/2793661/summary |chapter=8. Conclusion: Shifting Grounds, Shifting Goals}}</ref> and became the ''Industry and Electrification Long-Term Credit Bank of the USSR'' ({{lang|ru|Банк долгосрочного кредитования промышленности и электрохозяйства СССР}}), still known as Prombank. In 1932 it was again renamed, as the ''Finance Bank of Capital Construction in Industry, Transport, Posts and Telegraphs''.<ref name=DAA>{{citation |editor=Derenyk Akolovych Allakhverdyan |url=https://www.marxists.org/history/ussr/government/economics/1966-sovietfinancialsystem.pdf |title=Soviet Financial System |year=1966 |publisher=Progress Publishers |location=Moscow}}</ref>{{rp|98}}

The Prombank was initially led by Alexander Krasnoshchyokov from {{date|1922/10/24}} to {{date|1923/09/18}}, then by Vladimir Ksandrov from {{date|1923/10/12}} to {{date|1927/03/13}}.

==See also== * Banking in the Soviet Union

==Notes== {{reflist}}

Category:Defunct banks of the Soviet Union Category:Banks established in 1922