Thanks to its consistent and dynamic activities the FCRB has always played a significant role in banking support of joint projects between Russian and Czech companies. This determined further development of the bank. In 2008 the FCRB obtained a license of the Czech National Bank, which allowed it to open a subsidiary – the European–Russian Bank – that is fully-owned by Russian investors. The ERB started its operations in 2009 and have been successfully developing since then.
Establishment of the ERB is to be considered not only as success of the FCRB alone, but of the entire Russian banking community as well since it was the first time when a Russian bank got permission to open a subsidiary financial institution in the European Union. The Czech National Bank made the decision to issue the license because of flawless reputation of the FCRB with the Russian and Czech supervisory authorities and Russian and foreign partners.
Currently, the institutionalization of the International Banking Group FCRB–ERB is completed. By means of close relationship between its Russian and Czech counterparts, the group aims at taking the leading positions in Russian–Czech trade support and providing wide range of banking services to the citizens of both countries, including direct conversion of Russian rubles into Czech kronas.