The nineties for the countries of the former Soviet Union, in addition to the difficulties and development of criminals, are associated with global changes in the field of finance, and in the economy as a whole. When all the republics gained independence, capitalism broke through their borders uncontrollably. Thus, in the mid-nineties, various kinds of commercial banks began to appear, like mushrooms after rain. One of these is Bank City. In 1994 it would have been registered in the cold and distant city of Vorkuta and received the original name “Vorkuta Bank”. With this name, the bank has been lending to Russians for thirteen years. But the end of the summer of two thousand and seven gave the institution a new name — «Bank Gorod», with which the bank continued its activities, but, unfortunately, was liquidated. Although initially nothing foreshadowed trouble, and at the end of two thousand and eleven, the bank’s head office moved from the far north to the capital of Russia. Later, the organization expanded and branches appeared in St. Petersburg, Kazan and Tyumen. The bank’s staff consisted of about five hundred and forty employees and had about ninety payment terminals in its branches. The main and only segment of the client base was legal entities, therefore all loan products, such as acquiring, payroll projects, promissory notes, lending for the purchase of commercial real estate and leasing were developed just for small and medium-sized businesses. The company’s assets, although not fast, but steadily grew. The bank achieved such success under the leadership of the Kvasnyuk family, notorious in the banking environment.
Strange as it may seem, progress has broken the idyll in the bank «Gorod». At the beginning and middle of the 2000s, the state significantly increased its influence and regulation of the banking sector, and indeed any sphere in principle. Thus, more and more approaching Western business standards, which require transparency and conduct business in accordance with the letter of the law. That is why in 2015 the growth of the loan portfolio and other assets was replaced by pressure from the central bank. The bank’s management did not create a sufficient reserve in the deposit guarantee fund, thereby jeopardizing the well-being of its clients. A massive outflow of money began and the bank was unable to pay its creditors on time. In addition, the bank was seen carrying out questionable transfers of funds abroad. All of the above factors led to the fact that the Central Bank revoked the license from the Gorod Bank and it ceased its activities.