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Relationship was terminated
One of the first attempts to establish a relationship with a ‘Street Retail Bank’ which is not orientated to a specific regional market (as most such banks are), but is ready to open an account to any client from the ‘street’ who meets the bank’s Due Diligence requirements.
We first met in May 2000 (CreditAnstalt), and even at that time (long before the 11th September) the bank was very persistent and punctual as regards supporting documents and information about the source of funds. The bank was ready to open accounts to Russian companies (on condition that a license from the Central Bank of Russia has been obtained), the bank was not familiar with the concept of offshore jurisdictions.
Soon, CreditAnstalt merged with Bank of Austria which was acquired by the German HypoVereinsbank which in turn was amalgamated by the Italian UniCreditGroup. Such massive change of ownership has more than once led to changes in the bank’s policy regarding Russian-speaking clients and finally made us decide to break the relationship with this bank until better times
Relationship was terminated
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