# Prombank

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{{short description |Former Soviet bank}}
{{Infobox company
| name                = Prombank
| logo                = 
| image               = Здание Промбанка 3.jpg
| image_caption       = Former Prombank building on [Lenin Square, Novosibirsk](/source/Lenin_Square%2C_Novosibirsk), later repurposed as City Hall
| type                = [State owned company](/source/State_owned_company)
| industry            = [Financial services](/source/Financial_services)
| founded             = {{Start date |1922|09|01}}
| defunct             = {{End date|1959}}
| fate                = Merged
| successor           = [Construction Bank of the USSR](/source/Construction_Bank_of_the_USSR)
| hq_location_city    = 
| hq_location_country = [Soviet Union](/source/Soviet_Union)
| area_served         = Soviet Union
| key_people          = [Alexander Krasnoshchyokov](/source/Alexander_Krasnoshchyokov) (first leader)
| products            = [Loans](/source/Loans)
| owner               = [Government of the Soviet Union](/source/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](/source/Banking_in_the_Soviet_Union) between 1922 and 1959, when Prombank was merged with [Selkhozbank](/source/Selkhozbank) (Agricultural Bank) and [Tsekombank](/source/Tsekombank) (Residential Construction Bank) to form the [Construction Bank of the USSR](/source/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](/source/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](/source/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](/source/Alexander_Krasnoshchyokov) from {{date|1922/10/24}} to {{date|1923/09/18}}, then by [Vladimir Ksandrov](/source/Vladimir_Ksandrov) from {{date|1923/10/12}} to {{date|1927/03/13}}.

==See also==
* [Banking in the Soviet Union](/source/Banking_in_the_Soviet_Union)

==Notes==
{{reflist}}

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

{{Russia-company-stub}}
{{Europe-bank-stub}}

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Adapted from the Wikipedia article [Prombank](https://en.wikipedia.org/wiki/Prombank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Prombank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.