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Millennium Bank

Company


Owners:
Russian Railways (RR) - 35,09%

Assets

Assets

+ Millennium Bank

Millenium Bank (Ltd) is the Moscow bank created in December, 2002. The bank provided the list of banking services to physical persons and legal entities. One of the most important tasks of Bank – rendering financial services at railway stations of the Russian Federation. Special attention was paid to implementation of electronic payments, including using terminal devices. Branches and additional offices of Bank serviced clients in Moscow, St. Petersburg and Vyborg.

The Central Bank of Russia since February 5, 2016 revoked a license for banking operations at the Millennium bank.

"The decision on revocation of license is made by the Bank of Russia in connection with non-execution by credit institution of the federal laws regulating banking activity and also regulations of the Bank of Russia", the statement says. It is reported that at unsatisfactory quality of assets of Millenium-bank inadequately estimated the accepted credit risks. Besides, in connection with loss of liquidity the credit institution timely did not fulfill the obligation to creditors.


V sootvetstvii s prikazom Bank of Russia ot 05.02.2016 № OD-377 v Millenium-bank (Ltd) appoints temporary administration valid up to the moment of appointment of the receiver or appointment in compliance of the liquidator. Powers of executive bodies of credit institution according to federal laws are suspended" — the press service of the regulator reports.

Millenium-bank (closed joint stock company) — the participant of deposit insurance system. The federal law provides payment of an insurance indemnity to bank depositors, including individual entrepreneurs, in the amount of 100% of balance, but no more than 1.4 million rubles in total on one investor.

According to given to the reporting, on the value of assets of Millenium-bank on 1/1/2016 took the 282nd place in a banking system of the Russian Federation.

According to RIA Rating, for January 1 Millenium-bank took the 281st place with assets in 8.55 billion rubles of JSC RZD owns 35.09% of stocks of authorized capital of bank.

Millenium bank appeared in the investigation of the Vedomosti newspaper devoted to business of an environment of the Prosecutor General of the Russian Federation Yury Chaika. According to the edition, the Prosecutor General son Igor Chaika through JSC Beteltrans (BET) owns a share in 11.7 percent in this credit institution[1].

Interfax notes that Millenium bank was considered as close to the management of the Russian Railway, it actively supported social and political projects of Vladimir Yakunin. The head of Millenium Mikhail Baydakov was Yakunin's adviser.

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