A simple withdrawal of a license from the bank in 2015 would have cost more than 2 times cheaper.
The Central Bank of the Russian Federation was tired of injecting liquidity into the zombie bank for three years, and withdrew its license. The hole in Sovetskoye was 40 billion rubles.
The Deposit Insurance Agency (DIA) sent the clients of Tatfondbank and Intesbank to the court. They are asked to return money to the rancid credit institutions.
The ex-head of Tatfondbank concluded a pre-trial agreement on cooperation.
The Russian banking system is gradually devolving into a "black hole" that devours the state money at a rate of trillion rubles a year without any signs of stabilization.
Over the past 5 years, the Deposit Insurance Agency has paid about 1.4 trillion rubles. Now the system of state insurance has faced an unprecedented large payment of 170 billion rubles to depositors of Jugra Bank.
Financial rehabilitation only aggravated the situation in the bank.
In Tatarstan, another bank left associated with Tatfondbank and the Government of the Republic, Tatagroprombank, went into the red.
The Central Bank said why it could not save Tatfondbank. The captive business model, asset stripping and the intransigence of creditors are to be blamed. Meanwhile, the recovery of the banking system of Tatarstan entails new risks.
Russian banks face another year of intense withdrawal of licenses.
The panic of depositors in Tatarstan is not over, but there're still no plans for the rescue of the republican banks. The Bank of Russia and Tatarstan do not want to spend extra money to save the credit organizations from the crisis.
Tatfondbank officially announced the introduction of restrictions on payment. The bank is forced to adopt such measures due to the influx of depositors caused by the financial rehabilitation, which had been announced, but not implemented by the Central Bank. However, the decision on the rehabilitation has been made and now the details of the scheme are being negotiated.
Fugitive banker Alexander Shvets lugs off the Prime Minister of Tatarstan Ildar Khalikov.