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THE CENTRAL BANK FILED A BANKRUPTCY LAWSUIT AGAINST THE MOSCOW BANK GARANT-INVEST

... able to receive payments within the insurance limit established by law. Garant-Invest, which was on the 168th position in terms of assets among Russian banks, has now gone into liquidation. After submitting the application to the court, the fate of the bank will depend on its consideration. If the Central Bank's claim is satisfied, bankruptcy proceedings will begin. This case was the sixth revocation of a license from banks in 2024. The situation with Garant-Invest underscores the need for strict control over banks' compliance with regulations and legislation in order to avoid ...

Bankruptcy of "Lipetskoblbank" finally completed

... monetary resources were the deposits of citizens. The regulator considered that the credit institution pursued a policy associated with increased risks, without strengthening it by creating the necessary financial reserves. After the requirements of the Central Bank were met and reserves for low-quality assets were formed, the bank ended up with virtually zero capitalization and launched bankruptcy proceedings. During this period, former top managers were also held accountable. At the suit of the state corporation DIA, they were charged over the losses in the amount of 751.2 million rubles. Former CEO Svetlana Bobyleva had to pay 77.1 ...

PROINVESTBANK PROTESTS AGAINST BANKRUPTCY AND REVOCATION OF LICENSE

... Alexander Vorontsov and the bank's shareholder Maxim Sorokin are trying to challenge the regulator's decision in court. What is more, the complaint of Proinvestbank about the revocation of the license will be considered on July 19, and the hearing on the bankruptcy case was postponed to July 8. The first thing the ex-head of the bank Vorontsov managed to do was to make the court refuse to satisfy the regulator's claim. Representatives of the Central Bank tried to exclude the former head of the board from the list of participants in the case (he was declared as a third party), since the bankruptcy law does not provide for this. According to Vorontsov, his participation in the process is obligatory,...

INTERPROMBANK OF MOSCOW WILL BE DRIVEN TO BANKRUPTCY

... of its license to continue to operate in the securities market in April. The court session, at which the question of liquidating the bank will have to be decided, was scheduled for the end of June. However, if the court accepts the application of the Central Bank of the Russian Federation and opens a bankruptcy case, the liquidation process of Interprombank can be significantly extended in time and will require an auction and sale of existing assets in order to pay off the debts to creditors.

BANKS HAVE RAISED CREDIT CARD RATES

The largest Russian banks have increased their credit card rates. In a number of credit institutions, credit card rates have exceeded 50%. According ... ... the maximum credit card rate has reached 99.9%. Experts explain that such changes are related to the moratorium imposed by the Central Bank. According to it, the maximum rates of credit institutions are not limited from January 1 to March 31 of the current ...

Proinvestbank declared bankrupt

The Perm Regional Arbitration Court satisfied the claim of the Central Bank of the Russian Federation on the bankruptcy of ‘Professional Investment Bank’ JSCB. The credit institution lost its license on April 23, 2022. The reason for this was a bankruptcy claim of the Central Bank. According to the regulator, ‘Proinvestbank’ underestimated the amount of reserved funds, while overestimating the value of assets. In addition, the bank owned the property without using it in business. Attempts to artificially maintain the amount of capital, formally observing prudential ...

MEGAPOLIS BANK WENT BANKRUPT

... expected, since the bank itself lost its license on March 26. The total debt of the organization, which served as the basis for the recognition of insolvency, is more than 3.8 million rubles. An attempt to liquidate a commercial bank was blocked by the Central Bank in May. The earlier submitted liquidation application is still being examined by the court until the date when the decision on declaring the organization bankrupt comes into force. The very decision of the arbitration court on bankruptcy has not yet been made public. It is also unknown whether the representatives of the credit institution will appeal against it. Since April, the ‘DIA’ state corporation has been engaged in paying insurance payments to more than 5,000 bank depositors ...

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