Founded in 1870, it was Russia's largest private-sector bank by total assets at the start of the 20th century.
The bank's charter was approved by Alexander II on 24 February 1870, establishing as a joint-stock company with an initial authorized capital of 6 million rubles.
The founders were a group of manufacturers and merchants led by Vasily Kokorev, who became its chairman in 1878.
[3] From 1879 to 1917, the bank was near-continuously led by Alexander F. Mukhin [ru], successively as director, member of the board, and eventually chairman, with only a six-year gap in 1906–1912.
By 1899, the Volga-Kama Bank had branches in Astrakhan, Baku, Kazan, Kharkiv, Kyiv, Moscow, Nizhny Novgorod, Orenburg, Perm, Rostov-on-Don, Rybinsk, Samara, Saratov, Simbirsk (later Ulyanovsk), Suzdal, Tashkent, Tsaritsin (later Volgograd), Ufa, Vyatka (later Kirov), and Yekaterinburg.