Bank which operated until the ARCOS affair during May 1927. In 1932 MNB took over the Russian Trade Bank established in London in 1923. Resolution of the minutes of the meeting of the board of directors of MNB of March 1933: “the bank buys 1000 shares of the Dalbank Harbin bank for 50 thousand dollars in silver”. In 1933 the bank took over the Shanghai branch of Dalbank. Paris branch of the bank was closed in 1934, branch in Berlin in 1935. The bank worked during the World War II, with its staff gradually depleted. There were times when the number of people working there was down to four. Communications with many of the bank’s correspondents and clients were disrupted. As a result, the bank became little more than a payment agent for Gosbank. The balance sheet total during those years remained constant at £1 million. By the end of 1948 the capital of the bank increased up to £15.5 million (1945 – £1.5 million). In May 1950 the Shanghai branch of MNB was closed. In 1952 the balance reduced to £6 million. In 1956, after the Hungarian revolt, as the Soviet Union feared that its deposits in North American banks would be frozen as a retaliation, it decided to move some of its holdings to the Moscow Narodny Bank Limited. The British bank would then deposit that money in the U.S. banks. There would be no chance of confiscating that money, because it belonged to the British bank and not directly to the Soviets. On 28 February 1957, the sum of $800,000 was transferred. The Soviets also owned a bank in Paris, called the Banque Commercial pour l'Europe du Nord. The Paris Russian bank took some Narodny's dollars and lent them. Initially dubbed "Eurobank dollars" after the bank's telex address, they eventually became known as eurodollars. as such deposits were at first held mostly by European banks and financial institutions. In 1959, the former head of the Shanghai branch Andrey Dubonosov was appointed to a managerial position in the London branch of the bank and led Mosnarbank until 1967. During the period from 1958 till 1960 the number of staff members increased from 40 to almost 100. According to Tomas Aligebov, Vneshtorgbank had correspondent accounts with Chase Manhattan Bank prior to 1959 but by 1964 to 1966 had become an international bank using currency swaps and transferred its dollars