Russian Land Bank

History

2023: Bank Liquidation

On March 14, 2023, it became known about the liquidation of Svyaznoy Bank and the Russian Land Bank (RZB). The latter previously belonged to Elena Baturina, the wife of Moscow Mayor Yuri Luzhkov. The fact that these credit organizations were liquidated by the Central Bank of the Russian Federation was reported by the publication "Банки.ру."^[1]

Russian Land Bank

2013-2014

The Russian Land Bank lost its license on March 19, 2014, in particular, for repeated violation of the requirements of the law on combating money laundering and the financing of terrorism.

The bank did not comply with the requirements of the legislation in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism in terms of sending information to the authorized body on transactions subject to mandatory control, proper identification of its clients, the Central Bank of the Russian Federation reported then.

In May 2014, the Moscow Arbitration Court declared RZB bankrupt, and the Deposit Insurance Agency revealed a shortage of property worth 1.3 billion rubles in a credit institution.

Subsequently, it became known that the RZM was a member of the so-called "Moldavian scheme," with the help of which 19 banks withdrew more than 700 billion rubles from Russia through Moldova, the Банки.ру portal reports.

The total volume of dubious transactions of the licensed Russian Land Bank in 2013 amounted to 15 billion rubles. In terms of assets as of March 1, 2014, the bank ranked 227th in the banking system of the Russian Federation.

2010

Until 2010, the Russian Land Bank belonged to the wife of the former mayor of Moscow, Elena Baturina, who sold a 98% stake in the bank shortly after Yuri Luzhkov left the post of mayor.

Notes