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Kamchatkomagroprombank customers will start receiving insurance payments from February 13 - EastRussia | Far East

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Kamchatkomagroprombank customers will start receiving insurance payments from February 13

Payment of insurance compensation to depositors of Kamchatkomagroprombank, deprived of a license, will begin on February 13. This will take Sberbank and Russian Agricultural Bank.

According to the press service of the Deposit Insurance Agency, Sberbank will pay reimbursements to individuals, including those with deposits for business activities. Agricultural Bank will work with legal entities: representatives of small and medium enterprises.

The banks will pay compensation until liquidation procedures for Kamchatkomagroprombank are completed. At the same time, Sberbank and Rosselkhozbank will receive applications and issue insurance indemnities to depositors for at least one more year. After that, either the agent bank or the Deposit Insurance Agency will deal with the payments.

The Central Bank of Russia deprived PJSC Kamchatkomagroprombank of its license to conduct banking operations in late January. The bank showed signs of withdrawal of liquid assets in its activities, more than 70% of the loan portfolio was formed with doubtful and problem loan debts. At the same time, the credit organization systematically underestimated the amount of accepted credit risk. Agent banks for the payment of insurance compensation chosen Sberbank and Russian Agricultural Bank.