Russian c-bank cancels Nordea Bank licence
The Central Bank of Russia today issued an order cancelling the banking licence of Moscow-based Joint Stock Company Nordea Bank, or JSC Nordea Bank (Registration No. 3016). The credit institution ranked 141st by assets in the Russian banking system.
The licence of JSC Nordea Bank was cancelled following the request that the credit institution submitted to the Bank of Russia after the decision of the general shareholders’ meeting 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 sufficient assets to satisfy creditors’ claims.
The Bank of Russia will appoint a liquidation commission to JSC Nordea Bank. The company is a member of the Russian deposit insurance system.
Let’s recall that, in March this year, the Central Bank of Russia confirmed the liquidation of Morgan Stanley Bank. The banking license of Morgan Stanley Bank was annulled on May 27, 2020. Morgan Stanley had submitted an application for the annulment of its license. The reason for the company’s application was its plan for voluntary liquidation.
In December 2020, the Central Bank of Russia published a brief notice regarding the dealer license of UBS Bank. The Central Bank announces that it is annulling the dealer license of UBS Bank because the company has not exercised dealer activities for more than 18 months.