Fincher (Fincher, formerly Brinks)

NPO Fincher is a non-bank credit organization created in 2008 (as NPO BRINKS), which conducted cash transactions and was engaged in, inter alia, collection, servicing banks and terminals, as well as financial management.

2020: Detention of company founder Vladislav Mangutov

The founders of the company, according to its website, were M-Invest LLC and businessman Vladislav Mangutov. He is on the list of 200 richest businessmen in Russia, according to Forbes, and is a co-owner of Merlion. In 2020, he, along with another Merlion co-owner Alexei Abramov, was detained.

Businessmen spent in custody in this case until the beginning of April 2021. And after they were released "due to the lack of legal grounds for detention in a pre-trial detention center and the election of another preventive measure," the lawyer said. Sami Mangutov and Abramov denied their guilt.

2021: Company Shutdown

In September 2021, the Bank of Russia canceled the license to conduct banking activities at the Fincher non-bank credit institution (NPO). This was reported on the website of the Central Bank.

The license, according to the regulator, was revoked at the request of the organization itself. The decision to liquidate the enterprise was made by the participants of the Fincher general meeting on their own, the Central Bank said.

According to the regulator, as of September 1, Fincher ranked 350th in terms of assets in the banking system of Russia. NGOs did not participate in the deposit insurance system, the Central Bank specified, adding that the property of a credit institution is enough to satisfy the requirements of creditors.

In the non-bank credit institution itself, in response to a request to comment on this decision, RBC reported that due to the spread of electronic types of payments over the past five years, "there has been a significant decrease in the volume of cash circulation in retail and banks." "Current business models of collection companies do not allow you to conduct profitable business. The forecast for the future is a further reduction in cash, we do not see prospects for a successful business in collection, "the^[1] to RBC in NPO Fincher.]

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