Security bank Mankato is the first of several new security banks that have been announced by the state-owned security company Rostec.
The bank, which will be in the Russian banking system, is expected to launch by the end of the year.
Rostec has previously announced a security bank in Belarus, and earlier this month it said it would launch a new bank in the U.K. that will be called the British Trust.
Mankatas announcement follows other major security banks opening in the region this year, including Riga-based Nordea, which launched in Russia last week, and Krasnodar-based Alfa Bank, which is due to open next month in Russia.
Rostex, the company that owns Mankatecs bank, said it will also be able to open a bank in Russia in 2018, but did not say when.
Minsk, Belarus-based Rostec said the new bank will operate independently of Rostex.
“We believe this bank will be the best one to offer our customers a banking solution that is both easy to use and highly secure,” Rostec’s CEO Vladimir Grigorenko said in a statement.
Alfa said it was opening a new security bank called Alfa Security Bank, but didn’t specify when.
Russian regulators have been cracking down on banks that are considered “rogue banks” for some time.
Alba said it wants to improve its reputation for customer trust by improving its internal security and customer care.
Rostegra has been one of Russia’s most important banking centers, with about 70% of the country’s banking activity being conducted there, according to its most recent statistics.
Rostesbank is owned by the Russian Federal Security Service (FSB), which has a huge role in the government’s war on terror, which includes a vast number of arrests and wiretaps, including of Russian citizens.
In recent years, Russia has also taken steps to tighten controls over financial institutions, including shutting down some of them and banning them entirely.
Alta Bank is one of the largest banks in the country, and its CEO, Andrei Turchynov, was appointed by President Vladimir Putin in November 2015.
In March, Russia suspended access to the Alta platform after the Moscow prosecutor’s office said it had been the subject of a criminal probe by the FSB.
The U.S. Securities and Exchange Commission said on Monday it had launched an investigation into Alta, including the possibility that it was part of a Russian intelligence operation to steal financial secrets from the United States.
The SEC said the investigation “does not appear to be related to any current or future criminal activity.”
Alta said in its statement that it is cooperating with the investigation and is not currently planning to reopen the AlTA platform.
The agency said in the statement that the company is committed to its core values of integrity, professionalism and compliance.
“As part of its investigation, the SEC has determined that the firm is in compliance with the securities laws,” the agency said.
Altega, which had been part of the Altoidbank unit, announced in January it would shut down.
Altenbank, which has been in operation since 2009, was the subject a major investigation by the U:S.
Department of Justice, which said it found evidence that the bank’s employees had been using its information for criminal activity.
It is the third-largest bank in Europe, according a 2015 Forbes report.