The PR department of the Central Bank of Russia reported that “owing to a decision adopted by the participants of Independent Development Bank (Moscow) on the lending institution’s voluntary liquidation”, CBR decided to cancel the lender’s banking license starting March 19, 2009. A liquidation committee consisting of representatives of the company’s owners was already appointed.
Independent Development Bank is a member of the national deposit insurance system and the cancellation of a license is an accident insured. Given data provided by the lender, the lending institution possesses sufficient property to meet creditor claims, the department noted.
