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Banking licence of JSC Texbank cancelled

14 May 2021
Press release

By its Order No. OD-883, dated 14 May 2021, the Bank of Russia cancelled the banking licence of Cherkessk-based Joint-stock Company Texbank, or JSC Texbank (Registration No. 2756). The credit institution ranked 320th by assets in the Russian banking system.1

The licence of JSC Texbank was cancelled2 following the request that the credit institution submitted to the Bank of Russia after the decision of the general shareholders’ meeting on its voluntary liquidation (in accordance with Article 61 of the Civil Code of the Russian Federation).

Based on the reporting data provided to the Bank of Russia, the credit institution has sufficient assets to satisfy creditors’ claims.

A liquidator3 will be appointed to JSC Texbank.

JSC Texbank is a member of the deposit insurance system.

1 According to the financial statements as of 1 April 2021.

2 The licence was cancelled in accordance with Article 23 of the Federal Law ‘On Banks and Banking Activities’.

3 In accordance with Article 62 of the Civil Code of the Russian Federation and Article 21 of the Federal Law ‘On Joint-stock Companies’.

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