The insurance payments to the Russian subsidiary of the Cyprus Popular Bank – Rosprombank will amount to 2.6 billion Roubles, due to the fact that the Central Bank of Russia has recalled their license. The regulator explained that the bank was not complying with the federal laws which are regulating the banking activities and it also did not comply with the Acts of the Central Bank of Russia.
The financial institution, during the course of the year, has frequently violated the regulations stated in the Federal Law. For example concerning laundering of money, which were acquired via illegal means and financing of terrorism.
The Deposit Insurance Agency has announced that the payments to the Clients of the Rosprombank will begin on 27th of September.