Banking licence of LC CBCA cancelled

By its Order No. OD-1178, dated 24 July 2020, the Bank of Russia cancelled the banking licence of Commercial bank ‘Centrally Asiatic’, or LC CBCA (Registration No. 3037, Abakan). The credit institution ranked 418^th by assets in the Russian banking system1. 

The licence of LC CBCA was cancelled² following the request that the credit institution submitted to the Bank of Russia after the decision of its sole owner 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 enough assets to satisfy creditors’ claims.

A liquidation commission will be appointed to LC CBCA³. 

LC CBCA is member of the deposit insurance system.

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

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 57 of the Federal Law ‘On Limited Liability Companies’.

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24.07.2020 00.00.00