CBR revokes license of failed bank Tavrichesky
MOSCOW. Sept 3 (Interfax) - The Central Bank of Russia (CBR) has revoked the banking license of Tavrichesky Bank because there are no prospects for further implementing the recovery model for the lender, the CBR said.
The CBR has ended the plan for the Deposit Insurance Agency's (DIA) participation in measures to prevent Tavrichesky Bank's bankruptcy. The bank has completely lost its equity capital, the CBR said.
The DIA has been appointed temporary administrator at Tavrichesky Bank. The temporary administration will be in place until a receiver or liquidator is appointed. The authority of the bank's executive bodies has been suspended in line with federal laws.
Tavrichesky Bank is a participant in the deposit insurance system, so deposits will be returned to the bank's customers in the amount of 100% of balances up to 1.4 million rubles per depositor, including accrued interest.
The DIA plans to begin payouts by September 17, the state agency said. Agent banks will be selected on a competitive basis by September 8.
Based on the bank's financial statements as of August 1, 2025, the DIA's insurance liability is tentatively estimated at 56.5 billion rubles, the agency said.
The CBR tentatively estimated that the claims of first and second priority creditors can be fully covered with the sale of the bank's assets in the course of liquidation procedures.
Tavrichesky Bank was Russia's 52nd largest lender by assets at the end of the first half of 2025, according to the Interfax-100 ranking.
The bank's website said it was founded in early 1993 by nine manufacturing and commercial enterprises. The bank's regional network includes 13 offices to serve retail customers and a head office in St. Petersburg, five offices in Moscow and offices in Sosnovy Bor and Kingisepp, Leningrad Region.
The site also said that Tavrichesky Bank ran into serious financial trouble at the end of 2014 and stopped serving customers. The CBR appointed the DIA to serve as temporary administrator to manage the bank on February 11, 2015, and the agency ended its term as temporary administrator on June 30 of that year.
In March 2015, the DIA accepted the CBR's proposal to participate in measures to prevent the bank's bankruptcy. The agency held a tender to select an investor for the bank's financial recovery that was won by International Financial Club (IFC Bank). In the course of the bailout, Tavrichesky Bank received financial support from the CBR and DIA and managed to restore normal operations. The bank's financial recovery had been expected to conclude on July 1, 2035.
