How to open a commercial bank

If you decide to engage in banking, be prepared for the fact that this will require some effort and organizational measures. Open a commercial bank today is quite difficult. This is due to quite a lot of competition in the banking sector, as well as high requirements for the composition of the founders and financial support for the future business project.

You will need

• - The Federal Law "On Banks and Banking Activities" dated 02.12.1990, No. 395-I (as amended on 07/11/2011);

• - authorized capital.

Instruction manual

1

Draw up a preliminary business plan for a future commercial banking institution. Soundly evaluate your opportunities for organizing a bank. Define the circle of persons who will become partners and founders of the enterprise. Consider financing opportunities for the future bank. In accordance with the law, the authorized capital of a commercial bank must be at least 180 million rubles. Documents confirming the legality of the origin of the funds, which make up the authorized capital, will also be required.

2

Make sure that the founders of a commercial bank have a good reputation. This implies the absence of a criminal record for economic crimes, the strict implementation of financial obligations to the state and private individuals. These data must be documented.

3

Choose the legal form of the future bank. It can be created as a limited liability company or as a joint stock company. Regarding the choice of one form or another, you must carefully consult with a qualified lawyer.

4

Decide what the name of your commercial bank will be. With the help of a lawyer, draw up a memorandum of association, having previously discussed it with partners (founders). Together, develop the charter of the organization, as well as the final and detailed version of the business plan.

5

Carefully recruit staff. First of all, determine the management structure of the bank. It should include various functional units and services. The overall performance of the bank will largely depend on the optimal distribution of functions. Leading positions in the future bank should be held by professionals with the appropriate qualifications and experience in this field.

6

Proceed to the bank registration procedure. To do this, submit to the regional institution of the Central Bank a package of documents defined by the law on banking: an application in the prescribed form, a charter, a memorandum of association, information about the founders, documents on the right to use the premises, a receipt on payment of the state registration fee, and so on.

7

After receiving notification from the Central Bank of the registration of the enterprise, pay the bank’s charter capital in the amount determined by law, charter and constituent agreement. This must be done before the expiration of a month from the moment of registration of the legal entity. Submit payment documents confirming the fact of payment of capital to the organization controlling the bank. Now you have the right to carry out statutory activities in full.

opening a commercial bank