Aggregated News From Investment Management Regulators

Banking licence of CB Euro-Asian Investment Bank LLC revoked


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By its Order No. OD-2005, dated 4 December 2020, the Bank of Russia revoked a banking licence from the Moscow-based Commercial Bank Euro-Asian Investment Bank (Limited Liability Company), or CB Euro-Asian Investment Bank LLC (Registration No. 2897, hereinafter, the Bank). The credit institution ranked 312th by assets in the Russian banking system.1

The Bank of Russia took this decision in accordance with Clause 6, Part 1, Article 20 of the Federal Law ‘On Banks and Banking Activities’,2 based on the facts that the Bank:

  • violated federal banking laws and Bank of Russia regulations, making the regulator repeatedly apply supervisory measures over the last 12 months.

The Bank has been largely unprofitable since 2017. The financial stability recovery plan submitted by the credit institution at the request of the supervisor was repeatedly returned for revision as the measures envisioned by it were recognised as inadequate and unrealistic. Due to the unsatisfactory management quality, grounds arose for the Bank to lose its right to attract household deposits and to open and maintain household bank accounts. Taking into account the involvement of the principal beneficiary of the credit institution and companies under his control in various litigations and the potential growth of losses, there was no prospect for the Bank to continue its operations.

The Bank of Russia appointed a provisional administration to CB Euro-Asian Investment Bank LLC3 for the period until the appointment  of a receiver4 or a liquidator.5 In accordance with federal laws, the powers of the credit institution’s executive bodies were suspended.

Information for depositors:  CB Euro-Asian Investment Bank LLC is a participant in the deposit insurance system, therefore depositors will be compensated for their deposits6 in the amount of 100% of the balance of funds but no more than a total of 1.4 million rubles per depositor (including interest accrued), excluding the cases stipulated in Chapter 2.1 of the Federal Law ‘On the Insurance of Deposits with Russian Banks’.

Deposits are to be repaid by the State Corporation Deposit Insurance Agency (hereinafter, the Agency). Depositors may obtain detailed information regarding the repayment procedure 24/7 at the Agency’s hotline (8 800 200-08-05) and on its website ( in the Deposit Insurance/Insurance Events section.

1 According to the financial statements as of 1 November 2020.

2 The Bank of Russia made this decision because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, due to repeated application within a year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, considering a real threat to the creditors’ and depositors’ interests.

3 In accordance with Bank of Russia Order No. OD-2006, dated 4 December 2020.

4 In accordance with Articles 127 and 189.68 of the Federal Law ‘On Insolvency (Bankruptcy)’.

5 In accordance with Article 23.1 of the Federal Law ‘On Banks and Banking Activities’.

6 Depositor means a citizen of the Russian Federation, foreign citizen or person without citizenship, including those who are engaged in entrepreneurial activity, or legal entity specified in Article 5.1 of the Federal Law ‘On the Insurance of Deposits with Russian Banks’, which concluded with a bank a bank deposit/account agreement, or any of the above mentioned persons in whose favour the deposit was made and (or) who is the holder of a savings certificate, or an owner of a special account (special deposit) designed to form and use the fund of capital repairs of common property in an apartment house opened in accordance with the requirements of the Housing Code of the Russian Federation.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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