Bank Zerich has suspended all operations as of February 20, the lending institution told Banki.ru. "As of today all the bank's operations have been stopped, including those to make non-cash settlements and hand out cash," said the bank.
The financial institution posted a message on its website that measures aimed at raising extra funds "in order to strengthen its financial stability" are wrapping up at the moment.
The bank's customers were warned of possible short-term limits for maximum amounts of cash balances held in cash and, consequently, the short-term restriction in maximum amounts of payments.
"We strongly ask you to be quiet, be more patient and treat these events as a temporary inconvenience and not to terminate deposit account agreements ahead of schedule. The above measures will be accomplished in the course of several days, and your money will be definitely paid to you in full," the bank addressed to its customers.
The media reported on Saturday that Bank Zerich was switched off the Banking Electronic Speedy Payment (BESP) system.
