Chuvashcreditprombank

2019: Revocation of license

The Deposit Insurance Agency (DIA) will begin payments to investors of Chuvashcreditprombank which lost the license no later than November 21, 2019.

"Because the specified bank is a participant of a system of compulsory deposit insurance (No. 354 according to the register), his investors, including individuals (including individual entrepreneurs) and the legal entities (carried in accordance with the legislation of the Russian Federation to small enterprises, data on which contain in the unified register of small and medium-sized businesses) who signed bank deposit agreement or the bank account agreement with bank have the right to an insurance indemnity in the order and the size established No. 177-F3, federal by the law from December 23, 2003, "About deposit insurance in banks of the Russian Federation", the statement says.

The size of the insurance responsibility is estimated previously at 2.8 billion rubles, including on deposits of small enterprises — 326.7 million rubles.

Agent banks will be selected on a competitive basis no later than November 14.

Applications for payment of an insurance indemnity can be submitted by investors during the entire period of liquidation of bank which is not less than a year.

Compensation on deposits is paid by the agency to the investor at the expense of a fund of compulsory deposit insurance in the amount of 100% of the amount of all its deposits (accounts) in bank, but no more than 1.4 million rubles in total. Percent are calculated for date of a loss occurrence, proceeding from conditions of each specific agreement.