119 Offices in Russia

Provisional Administration is Imposed in Tatfondbank from 15 December

15 December 2016

Starting from 15 December, the Bank of Russia imposed the functions of provisional administration on the Deposit Insurance Agency to administer Tatfondbank for a period of six months. The primary task of the provisional administration is to hold a survey of the Bank’s financial standing. At the same time, a moratorium on meeting the claims of creditors was imposed for the term of 3 months.

In accordance with the Federal Law “On the Insurance of Household Deposits with Russian Banks”, the imposition of a moratorium on meeting the claims of the Bank’s creditors is an insurance event. Payments to depositors of PJSC Tatfondbank, including such to individual entrepreneurs, will commence not later than 14 days from the day on which the moratorium was imposed. The procedure for payment of insurance compensations will be determined by the state corporation “Deposit Insurance Agency”.

The authorities of shareholders related to participation in the charter capital, as well as the authorities of management bodies of PJSC Tatfondbank have been suspended for the term of activity of the provisional administration.

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