By its order dated June 24 the Bank of Russia declared invalid IPF Bank’s banking license, the PR department of the Central Bank of the Russian Federation reported.
“The license was annulled on the basis of Article 23 of the Federal law “On Banks and Banking Activities” in connection with a decision taken by the bank’s authorized body to terminate activities through liquidation in line with Article 61 of the Russian Civil Code and a relevant application forwarded to the Bank of Russia," CBR reported.
Based on data provided by the lending institution, IPF Bank has sufficient assets to meet creditor claims.
In accordance with the Civil Code of the Russian Federation and the Federal law “On Limited Liability Companies” the bank’s liquidation committee was appointed the owner of IPF Bank.
IPF Bank is a member of the national deposit insurance system and the revocation of a banking license is an accident insured.
