Licensing of the bank to carry out banking operations has been revoked by the Bank of Russia with effect from 10.07.2017, as per the order numbered OD-1909.

The decision was taken due to the credit organization's failure to comply with federal laws regulating banking activities and the Bank of Russia's regulatory acts, taking into account multiple application of measures provided for by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" within one year, considering the presence of a real threat to the interests of creditors and depositors.

Insurance compensation will be paid to the depositor in the amount of 100% of the total balance of all their accounts, including those opened to carry out business activities, but not exceeding 1.4 million rubles in total. Payments will commence no later than July 24, 2017.